Dudley Sees High Threshold for Change in Pace of Tapering

William Dudley, president of the Federal Reserve Bank of New York, said that while harsh weather will slow growth during the first quarter, it won’t harm the economy enough to merit slowing the tapering of bond purchases.

The winter weather doesn’t prompt “a fundamental change in the outlook,” and “does not rise to the level where you change the taper path,” Dudley said at an event in New York today organized by the Wall Street Journal. “The threshold is pretty high to change it.”