{"id":119399,"date":"2021-08-05T16:13:09","date_gmt":"2021-08-05T16:13:09","guid":{"rendered":"https:\/\/fin2me.com\/?p=119399"},"modified":"2021-08-05T16:13:09","modified_gmt":"2021-08-05T16:13:09","slug":"feds-waller-says-accommodative-policy-may-be-pulled-back-sooner-than-expected","status":"publish","type":"post","link":"https:\/\/fin2me.com\/markets\/feds-waller-says-accommodative-policy-may-be-pulled-back-sooner-than-expected\/","title":{"rendered":"Fed's Waller says accommodative policy may be pulled back sooner than expected"},"content":{"rendered":"
FILE PHOTO: The Federal Reserve building is set against a blue sky in Washington, U.S., May 1, 2020. REUTERS\/Kevin Lamarque\/File Photo<\/figcaption>

(Reuters) – The U.S. economic recovery is progressing rapidly, the labor market is improving and it may be possible for the Federal Reserve to start withdrawing its accommodative monetary policy sooner than some expect, Fed Governor Christopher Waller said on Thursday.<\/p>\n

\u201cMy outlook is very much that the economy is going to recover,\u201d Waller said during a virtual event organized by the American Enterprise Institute think tank. \u201cWe will be able to pull back on accommodative monetary policy potentially sooner than others think.\u201d<\/p>\n

Waller said he has \u201chigh hopes\u201d for the monthly jobs report being released on Friday and for August report that will be released next month. He repeated his view that it is possible that the U.S. labor market will have recovered about 85% of the jobs lost during the COVID-19 pandemic by September after accounting for close to 2 million people who retired during the public health crisis.<\/p>\n

On Monday, Waller said the Fed could start to reduce its support for the economy by October if the next two monthly jobs reports each show employment rising by 800,000 to 1 million, as he expects. He said then that the Fed should \u201cgo early and go fast\u201d when reducing its asset purchases from the current pace of $120 billion a month so policymakers could be in a position to raise rates in 2022 if needed.<\/p>\n

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FILE PHOTO: The Federal Reserve building is set against a blue sky in Washington, U.S., May 1, 2020. 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