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Federal Book Chair Jerome Powell dropped more light on the tapering timeline during his press conference on Wednesday, keeping in mind that the U.S. has actually not gotten to "substantial more development" to begin suppressing the central bank's $120 billion a month in property purchases.
" We are not at considerable additional development. This conference was the very first deep dive on timing, speed, as well as composition [of property acquisitions], however no decision was made," Powell stated. "We are making progression. And also we expect that if points work out … as well as when we reach our objective, after that we'll taper at that point."
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Fed’s Powell: U.S. is a ways away from 'substantial further progress’
Federal Reserve Chair Jerome Powell shed more light on the tapering timeline during his press conference on Wednesday, noting that the U.S. has not reached "substantial further progress" to start curbing the central bank's $120 billion a month in asset purchases.
"We are not at substantial further progress. This meeting was the first deep dive on timing, pace, and composition [of asset purchases], but no decision was made," Powell said. "We are making progress. And we expect that if things go well … and when we reach our goal, then we'll taper at that point."
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