Fed's Powell: Appropriate to consider wrapping up taper sooner By Reuters

Fed's Powell: Appropriate to consider wrapping up taper sooner

EconomyNov 30, 2021 11:35AM ET

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Fed's Powell: Appropriate to consider wrapping up taper sooner

© Reuters. FILE PHOTO: Federal Reserve Chair Jerome Powell listens as U.S. President Joe Biden nominates him for a second four-year term in the Eisenhower Executive Office Building’s South Court Auditorium at the White House in Washington, U.S., November 22, 2021.

(Reuters) - U.S. Federal Reserve Chair Jerome Powell on Tuesday said it would be appropriate for the central bank to consider wrapping up its "taper" of large-scale bond purchases more quickly based on the strength of the economy and high rate of inflation.

The Fed kicked off its taper earlier this month and announced a reduction schedule that would complete it around mid-year but is widely expected to revisit that timeline at its next meeting in two weeks. Powell's comment came during testimony to the Senate Banking Committee.

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