Fed's George says that it's time to reduce bond buying

The Federal Reserve's Esther George has said that it's time to adjust the Fed's bond buying to the Fox Business Network, reiterating that quantitative easing (QE) has costs and benefits.

At present, the Fed is expected to adjust QE as data improves with some analysts predicting that tapering of purchases may occur as early as September. George believes that it would be "appropriate" to reduce QE "sooner".

George is seen as one of the Fed's more hawkish members, so these comments are not unexpected.