ASHEBORO, N.C. — Richmond Federal Reserve Bank President Jeffrey Lacker said Thursday the Fed's policymaking Federal Open Market Committee could begin reducing asset purchases at one of its next three meetings, but said it will depend on the economic data.

A decision to "taper" the $85 billion monthly bond buying should also depend on FOMC perceptions of the "efficacy," as well as the costs of the "quantitative easing" program, Lacker said as he answered questions from the SCORE group of business people.

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.