Economics
Powell Bats Down Bond-Taper Talk, Warning Against an Early Exit
- Fed chair promises plenty of notice on trimming bond buying
- ‘We know we need to be very careful’ in talking about tapering
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Federal Reserve Chair Jerome Powell sought to stamp out talk of a premature reduction in the central bank’s massive bond-buying campaign, saying “now is not the time” to hold that discussion.
“We know we need to be very careful in communicating about asset purchases,” he said Thursday during a virtual discussion. “Now is not the time to be talking about exit. I think that is another lesson of the global financial crisis, is be careful not to exit too early.”