While he expects quantitative easing to be done by October, it will be "quite some time" until the Fed increases interest rates, Federal Reserve Bank of Dallas President Richard Fisher said Friday, according to reports.
"What we're trying to do now is articulate the best possibility we can what happens after we finish our massive quantitative easing," Fisher said about the Fed's change in forward guidance at the London School of Economics' Systemic Risk Centre Conference, according to media reports.
"We're close to the end of that," he said. "If you do the numbers, as Chairman Yellen said in her press conference the other day, it's pretty clear that by October, if we continue at this pace of reducing by $10 billion per meeting, then our large scale asset purchase will be terminated."
Fisher refused to elaborate on how long "quite some time" would be, saying only rates would be increased at "the right time."
