Fed's Bond-Buying May Extend into Late 2013

Sluggish growth expected for year

The Fed's bond-buying program is likely to be needed well into the second half of 2013, said John Williams, the president of the San Francisco Federal Reserve Bank, on Monday.

In a speech to a semiconductor trade group meeting south of San Francisco, Williams said the Fed "will be looking for convincing signs of ongoing improvement in the labor market and a range of other economic indicators before we stop this program."