News Headline Summary

Fed's Pianalto says prepared to reduce purchases on more labour improvement

- Highly accommodative monetary policy appropriate.
- Employment has been stronger than she expected.
- Fed will stick with low rates even after bond-buying program is scaled back.

Update details:

- Fed's Sandra Pianalto's comments that she is prepared to reduce purchases did not indicate when or by how much.

- Pianalto is a well known dove and a non-voting member of the FOMC.

Print 17:40, 07 Aug 2013 - Fed - Source: Newswires