The Federal Reserve on Wednesday said the economy has made progress toward standards needed to begin to slow down asset purchases but not enough for tapering...
The Federal Reserve on Wednesday said the economy has made progress towards the standards it set for starting to slow down its bond-buying program, but said not enough progress has been made to start tapering yet.
Last December, the Fed said it would keep buying bonds until there was “substantial” progress in reaching the Fed’s goals of full employment and 2% inflation. Economists think the Fed got briefed by the staff at the meeting this week on different scenarios for reducing the pace of purchases and whether to trim the purchases of mortgage debt at a faster pace.
Inflation has been running hotter this year than the Fed expected. The consumer price index is up 5.4% over the past year ending in June. This argues for a quicker tapering.
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