Powell urged fast end to QE despite signs of taper tantrum

Jerome Powell gives testimony
Jerome Powell: “We’ve got to jump,” he said, according to the June 2013 meeting transcript
Federal Reserve

Federal Reserve chair Jerome Powell urged a faster end to asset purchasing in 2013 than many of his colleagues, despite recognising there might be a highly volatile market reaction.

After admitting he was concerned there might be significant volatility in the markets after the announcement, Powell insisted “there is no risk-free path”, according to the transcript of the June 2013 Federal Open Market Committee meeting.

“We’ve got to jump,” he said.

Later that year, the Fed announced plans to

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