Powell's keynote is coming, and Fed hawks call for starting to reduce debt purchases as soon as possible
Fed hawks urged the Fed to begin reducing its bond-buying plan a day before Chairman Powell's keynote speech. They believe that this plan has become ineffective and even harmful.
St. Louis Fed President Brad said on Thursday that "we don't need to buy assets at this point" and again urged the Fed to start slowing down its $120 billion worth of monthly debt purchases as soon as possible. well and finish the plan early next year.
Brad, Kansas City Fed President George, and Dallas Fed President Kaplan have mitigated the impact of the Delta variant virus under different circumstances. "The basic thing we've heard is that they have withstood the impact of this backlash at least as much as the last few times. Many people told us that their business was less affected," he said. much more."
Brad and George have both stated that the Fed has made steady progress on its plan to reduce debt purchases, which is aimed at keeping interest rates low to support the economy. Brad said the Fed is "unifying" on reduction plan. George told Fox Business Channel that she expects more information after the Fed meeting on September 21-22.
In view of strong inflation and projected job growth, "there's an opportunity to start reducing asset purchases," George said, and she wants the process to start "as soon as possible."
Kaplan also reiterated his view that the Fed should announce the plan after its September meeting, begin action in October or "soon after" and complete the cuts in about eight months.
Follow us to always know the science of trading as well as the latest updates on technical analysis & fundamental analysis at www.moneylifeconsulting.com
Check Our Telegram Channel for Daily Updates
No comments:
Post a Comment