8/27, 4:24 PM (Source: TeleTrader)
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May taper by end of year if economy grows as anticipated - Powell

Head of the Federal Reserve Jerome Powell stated on Friday that it would be appropriate to begin the taper by end of 2021 if the "economy evolved broadly as anticipated."

"We will be carefully assessing the incoming data and the evolving risks," the Fed chair asserted, adding that the central bank's "elevated holdings of longer-term securities will continue to support accomodating financial conditions" even after the asset purchases have ended.

The timing and pace of the reduction of asset purchases will not be a signal for the raise of interest rates, Powell noted.

Breaking the News / MD