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Fed to Start Tapering Later in November

November 4, 2021 by Forex Winner Leave a Comment

Fed to Start Tapering Later in November

Source: Federal Reserve

The United States Federal Reserve will start scaling back its bond-buying program later this month, indicating a pullback from the assistance it released amid the COVID-19 pandemic.

  • The Federal Open Market Committee in a statement following its latest meeting said the tapering will begin later this month.
  • The tapering will involve $15 billion monthly from the current $120 billion, including a reduction of $10 billion in the Treasurys, and $5 billion in mortgage-backed securities.
  • The reduction in the bond-buying program comes as the Fed deemed that the economy has made “substantial further progress” toward its goals.
  • The statement was approved unanimously, and noted that the Fed is not on a predetermined course, and adjustments may be made if necessary.
  • Officials also stressed that while inflation remains elevated, drivers are expected to be transitory given the imbalances due to the pandemic and the reopening of the economy.

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