12/2/2021, 5:53 PM (Source: TeleTrader)
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Fed's Bostic wants to finish taper 'sooner rather than later'

Federal Reserve Bank of Atlanta President Raphael Bostic stated on Thursday that he is in favor of the central bank speeding up the tapering process and finishing "sooner rather than later."

Bostic said that bond purchases have served their purpose and that tapering will provide more options next year when it comes to interest rate lift-off. Moreover, he asserted that the taper won't put brakes on the economy, adding that the central bank can have data inform policy once it's out of the way.

Lastly, Bostic commented that he could see more than one interest rate hike in 2022 if inflationary levels stay elevated, noting that it would be good for the taper to end before interest rates are raised.

Baha Breaking the News (BBN) / OL