Fed’s Dudley Sees Faster Growth in 2014 as Fiscal Drag Wanes

Federal Reserve Bank of New York President William C. Dudley, who has supported record stimulus, said economic growth will probably quicken in 2014, possibly warranting a reduction in the central bank’s bond purchase program.

“A strong case can be made that the pace of growth will pick up notably in 2014,” Dudley, who serves as vice chairman of the Federal Open Market Committee and has never dissented from a monetary policy decision, said today in a speech in Stamford, Connecticut.