Fed pulls trigger on taper

Jerome Powell
Jerome Powell
Photo: US Federal Reserve/Flickr

The Federal Open Market Committee unanimously voted to scale back its asset purchases today (November 3), beginning its long-awaited taper.

This puts the Fed on the path to ending the quantitative easing programme it began in March 2020, likely by the middle of next year.

The FOMC kept interest rates steady at 0% to 0.25%, as expected.

In his press conference, chair Jerome Powell noted that the Delta strain and supply shocks had slowed GDP growth in the third quarter of 2021, and that

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