Fed Gov Christopher Waller on Monday the central bank should consider starting to slow down asset purchases 'early' and slowing the purchases at a fast pace...
The Federal Reserve should consider starting to slow down its $120 billion-a-month asset purchases as soon as its next meeting in September, and at a fast enough pace to get it done quickly, said Fed Gov. Christopher Waller on Monday.
If his forecast comes true, the Fed could announce its intention to slow down the purchases at its September meeting and start the process in October, Waller said. By “fast,” Waller said he meant at a quicker pace than the taper in 2013-’14, when the Fed starting slowing down asset-buying in December 2013 and didn’t finish until 10 months later, in October 2014.
He said he was worried that inflation was more than “transitory,” as Fed Chairman Jerome Powell has said.
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