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Powell Doesn't Expect to Raise Rates Before Taper Concludes

FED

Q: On taper, might you have to lift rates before finishing?

- A: That is not my expectation. We have haven't decided to taper yet and we haven't decided the pace yet. So it's not my expectation we would have to. We can certainly speed up or slow down the taper if it becomes appropriate.

  • Back in 2013 when we tapered, we weren't on a preset course. This is a shorter period. The economy was much further along when we tapered in 2013. It's a gradual taper when we can agree on it. We can speed it up or slow it down as needed.
  • As long as you are buying assets you are providing accommodation. It wouldn't make sense to then lift off. What you would do is speed up the taper if that is the situation you were in. We don't expect that situation, but it would be wiser at that point to go ahead and speed up the taper. So the two are then working in the same direction.
Energy BulletsCommoditiesFOMC Calendar Market News
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