10/1/2021, 12:49 PM (Source: TeleTrader)
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Kashkari: Taper in not too distant future makes sense

Minneapolis Federal Reserve President Neel Kashkari (pictured) expressed on Friday support for reducing the central bank's asset purchases.

"The quantitative easing and the bond buying that the committee undertook was absolutely appropriate and the right thing to do, but I do think it makes sense in the not too distant future to begin tapering that process," the official said, asserting that he is "comfortable with where the chairman [Jerome Powell] has us and where the [Federal Open Market Committee] seems to be heading."

Additionally, Kashkari stated that he does not believe that the Fed will need to raise the interest rates before 2024.

Baha Breaking the News (BBN) / MD