Powell’s remarks show Fed set for November taper

Jerome Powell
Federal Reserve

Federal Reserve chair Jerome Powell triggered barely a ripple in markets on September 22 as he gave the clearest indication yet that the Fed will cut back its bond buying in November.

“The [Federal Open Market Committee] judges that a moderation in the pace of asset purchases may soon be warranted,” said Powell in the post-meeting press conference. The committee kept the policy rate on hold at 0–0.25% and asset purchases at the same rate of $120 billion a month.

Analysts were unanimous that

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