This year, Powell will be staring down what is likely to bethat are above the Fed's 2% mandate and have caused some market pressure to tighten policy at least a little to stave off problems down the road.
"The 2013 'Taper Tantrum' happened before anything actually 'happened,' DataTrek Research co-founder Nick Colas said in a note earlier this week. "It's fair to say it was a tantrum about Fed miscommunication rather than actual Fed policy." Grindal anticipates that the Fed will announce its tapering intentions between Jackson Hole and the November meeting of the Federal Open Market Committee, a timetable that is a bit later than other central bank watchers expect but largely in line with movement this year.
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