WASHINGTON, Oct 31 — The Federal Reserve is set to begin removing a major plank of the stimulus policies it rolled out last year as the pandemic began, a sign of the progress the US economy has posted since the historic downturn.
Fed Chair Jerome Powell could touch on these topics when he speaks following the two-day Federal Open Market Committee meeting beginning Tuesday, and may also offer the central bank’s latest views on the state of the recovery. The most potent policy move the Fed could make against inflation is raising its lending rate off zero.
Powell has previously said the buying could be wrapped up by the middle of next year, but details on the pace and composition of the taper, as well as its exact starting date, will have to wait for the meeting. Lackluster data usually supports keeping monetary policy easy, but there’s evidence that stubbornly highs prices are getting to FOMC members.
Source: Financial Digest (financialdigest.net)
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