September 24, 2021
(Reuters) – The Federal Reserve Board of Governors has announced that it will begin cutting bond purchases in November if the economy is on its current track.
Some officials will see the September employment report scheduled for October 8 for the final evidence that the labor market has achieved “substantial further progress” in recovery. Others feel that the benchmark has been met and they are ready to start the process.
Below is a running tally of places where authorities have stated that they have been asking questions since the Federal Open Market Committee’s September 21-22 meeting. It will be updated as the authorities publish their position.
Ready to roll the taper:
Loretta Mester, President, Federal Reserve Bank of Cleveland (2021 non-voters / 2022 voters), September 24:
“In my view, the economy meets these criteria. We will start dialing back purchases in November and support them to be completed in the first half of next year.”
Esther George, President, Federal Reserve Bank of Kansas City (2021 non-voters / 2022 voters), September 24:
“In my view, the criteria for substantial further progress were met, inflation was well above target, and the unemployment rate was 5.2%, down 1.5 points from December. The reason for continuing to increase assets every month is fading, and it is appropriate to suggest that we consider ending the purchase of assets soon. “
Waiting for September Employment Report:
Not at the time of publication.
(Edited by the US Economic Team)
Fact Box-Are you ready to taper or are you waiting for more data?Recent Fed official comments
Source link Fact Box-Are you ready to taper or are you waiting for more data?Recent Fed official comments