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Prepared To Adjust Taper If Necessary

FED

They've announced the taper for both Nov and Dec in advance, so presumably on 'autopilot' through the Dec meeting - though the Fed reserves the right to adjust if necessary.

  • From the statement: "The Committee judges that similar reductions in the pace of net asset purchases will likely be appropriate each month, but it is prepared to adjust the pace of purchases if warranted by changes in the economic outlook."
  • From the implementation note:
  • "Increase the SOMA holdings of Treasury securities by $70 billion and of agency MBS by $35 billion, during the monthly purchase period beginning in mid-November."
  • "Increase the SOMA holdings of Treasury securities by $60 billion and of agency MBS by $30 billion, during the monthly purchase period beginning in mid-December."
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