Federal Reserve officials will seek to forge agreement at their coming meeting to begin scaling back their easy money policies in November.Many of them have said in recent interviews and public statements that they could begin reducing, or tapering, their $120 billion in monthly purchases of Treasurys and mortgage-backed securities this year. While they are unlikely to do so at their meeting on Sept. 21-22, Fed Chairman Jerome Powell could use that gathering to signal they are likely to start the process at their following session, on Nov. 2-3.
Under the plans taking shape, officials could reduce those purchases at a pace that allows them to conclude asset buying by the middle of next year.
Growth in Spending Exceeds Growth in Income for Most of the Last 10 Months
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A deeper dive into personal income and outlays for March shows significant
signs of consumer stress to maintain standards of living.
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