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8/27, 4:08 PM (Source: TeleTrader)
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Delta spread affected tapering timeline - Fed's Powell

The spread of the COVID-19 Delta variant has impacted the United States Federal Reserve's (Fed) stance on the tapering of the asset purchases, Fed Chair Jerome Powell (pictured) said on Friday.

Delivering remarks at the annual Jackson Hole symposium, Powell noted that he thought in July that tapering could come "later this year."

He also added that the employment in the country, which is one of the criteria on which the Fed bases its policies, "has seen further progress" in July.

Breaking the News / BU