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Powell Flags Mid-2022 as "Appropriate" For Taper Conclusion

FED
  • Powell names around the middle of 2022 as "likely to be appropriate" for concluding taper process. Repeats once again that the timing and pace not intended to carry a direct signal regarding rate liftoff, for which there is a more stringent test.
  • Goes through the dot plot, with the usual disclaimers. Opening statement concludes, Q&A begins.
  • ( MNI VIEW: Starting taper in November and getting taper done by e.g. June 2022 = 8 months, $15B / month = $120B )

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