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FOMC Day, Qtrly Refunding and Solid Data Docket


US Product Imports from India to New York Surge in Jan


(H3)‌‌ Watching Support At The 50-Day EMA

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Question On Whether There Are Worries Of Repeating The Taper Tantrum

  • Q: What about worries of repeating the taper tantrum?
  • A: There were multiple taper tantrums; the famous one in 2013; the December 2018 meeting... We had developed a practice of moving predictably and moving in steps. We were trying to avoid a tantrum - they can be quite destructive, tighten financial conditions and knock the economy off kilter. Both '13 and '18, really had consequences for the real economy, you know, two, three, four months later. We were trying to avoid that.
  • When inflation changed direction - really, in October - we moved quickly since then. Before then, inflation was coming down month by month and we thought we probably had the story right. I think in October, you started to see a range of data that said no, this is a much stronger economy and much higher inflation than we'd been thinking. We pivoted and here we are.

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