I also believe that inflation expectations will be relatively stable and that inflation will move up toward our goal of 2 percent over the next year. BIS central bankers’ speeches  5  On monetary policy, the reduction in asset purchases from $ billion a month to $ billion a month is a step in the right direction.
I believe the economy has met the criteria of significant improvement in labor market conditions for ending the program and that further increases in the balance sheet are unlikely to provide appreciable benefits for recovery. Even after the asset purchase program has ended, monetary policy will still be highly accommodative. The work of the Fed, however, is far from over.