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WSJ Reiterates Some On FOMC Looking For Mid-2022 End To Asset Buys

FED

WSJ reporting that the Fed is "nearing agreement" to begin tapering "in about three months" if the economic recovery proceeds, with some on the FOMC looking to halt purchases by mid-2022.

  • The article comes ahead of Wednesday's minutes and doesn't cite any sources we haven't heard from, per se - but for this piece they interviewed multiple Fed officials including Boston's Rosengren, Chicago's Evans, Dallas's Kaplan, SF's Daly, and St Louis' Bullard (though somewhat unclear what statements were exclusive to the WSJ and which were ).
  • Not much we didn't know before. We knew Rosengren, Bullard and Kaplan were looking for a mid-2022 end to purchases (Bullard by March).
  • But Treasury futures off a couple of ticks, perhaps as this article is seen as a "Fed whisperer" type piece gauging the current FOMC mood behind the scenes and conveying it to the market.
  • A mid-2022 end to tapering would be on the early side of expectations (which steer more toward end-Q3/early Q4 end to purchases) and therefore hawkish.
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