WASHINGTON — In an attempt by yet another Federal Reserve official to clarify the meaning of the latest comments from the central bank, Richmond Federal Reserve Bank President Jeffrey Lacker said Friday the Fed will continue in effect to add accommodation over the next year, just at a slower pace and provided economic data confirm the Fed's forecasts.

"The balance sheet continues to expand, consistent with Fed Chairman Ben Bernanke's announcement last week that the Federal Open Market Committee anticipates reducing the pace of asset purchases later this year and ending purchases around mid-year 2014, provided incoming data are broadly consistent with the Committee's forecast," Lacker said in a speech prepared for delivery to the Judicial Conference of the Fourth Circuit in White Sulphur Springs, W.Va.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.