{"id":120860,"date":"2021-09-03T08:32:45","date_gmt":"2021-09-03T08:32:45","guid":{"rendered":"https:\/\/fin2me.com\/?p=120860"},"modified":"2021-09-03T08:32:45","modified_gmt":"2021-09-03T08:32:45","slug":"fed-likely-to-announce-taper-in-november-former-fed-official-says","status":"publish","type":"post","link":"https:\/\/fin2me.com\/business\/fed-likely-to-announce-taper-in-november-former-fed-official-says\/","title":{"rendered":"Fed likely to announce taper in November, former Fed official says"},"content":{"rendered":"

(Reuters) – omThe U.S. Federal Reserve is likely to announce the tapering of its asset purchases in November and begin the process a month later, former Federal Reserve official Dennis Lockhart said on Thursday.<\/p>

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>

Waiting until November will give policymakers more data on the labor market\u2019s recovery and economic growth, Lockhart told the Reuters Global Markets Forum (GMF).<\/p>\n

But Lockhart, president of the Atlanta Fed from 2007 to 2017, warned \u201ca particularly bad next two months\u201d could postpone this timeline.<\/p>\n

The Fed\u2019s September meeting will be the first since the Jackson Hole symposium where Chairman Jerome Powell only said tapering could be \u201cthis year.\u201d<\/p>\n

Fed policymakers will also release their summary of economic projections at the September meeting, which Lockhart said they may want to get \u201cout of the way\u201d before giving a taper schedule.<\/p>\n

The economic projections \u201ccould present a picture not entirely consistent with the tapering decision in some respects,\u201d he said.<\/p>\n

Lockhart was \u201cagnostic\u201d on the route the central bank might take to unwind its $120 billion worth of monthly bond purchases — whether by following the post-Great Recession playbook and first cutting back Treasury purchases, or leading with mortgage-backed securities to calm a red-hot housing market.<\/p>\n

Lockhart believes financial markets should absorb tapering without much volatility, but that the Fed should worry about persistent market unrest if it spills into the real economy.<\/p>\n

Lockhart, currently Senior Fellow at the Harvard Kennedy School, sees inflation as transitory \u201cfor now\u201d.<\/p>\n

These price pressures could last through 2022, making it vital to manage inflation expectations, he said.<\/p>\n

Despite some calls for the Fed to focus more on green policies, Lockhart believes the central bank\u2019s current mandate should not be changed.<\/p>\n

Two policymakers told GMF the onus of promoting green investments reut.rs\/3kvgWhj should lie with governments and not central banks reut.rs\/3DARRdA.<\/p>\n

Lockhart also noted that the Fed was serious in addressing inequality, particularly employment among women and minorities.<\/p>\n

\u201cThe \u201cinclusion\u201d word … signals an important change in the (Fed\u2019s) mentality.\u201d<\/p>\n

(This interview was conducted in the Reuters Global Markets Forum, a chat room hosted on the Refinitiv Messenger platform. Sign up here to join GMF: refini.tv\/33uoFoQ)<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

(Reuters) – omThe U.S. Federal Reserve is likely to announce the tapering of its asset purchases in November and begin the process a month later, […]<\/p>\n","protected":false},"author":3,"featured_media":120859,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"yoast_head":"\nFed likely to announce taper in November, former Fed official says - Fin2me<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fin2me.com\/business\/fed-likely-to-announce-taper-in-november-former-fed-official-says\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Fed likely to announce taper in November, former Fed official says - Fin2me\" \/>\n<meta property=\"og:description\" content=\"(Reuters) – omThe U.S. Federal Reserve is likely to announce the tapering of its asset purchases in November and begin the process a month later, [...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/fin2me.com\/business\/fed-likely-to-announce-taper-in-november-former-fed-official-says\/\" \/>\n<meta property=\"og:site_name\" content=\"Fin2me\" \/>\n<meta property=\"article:published_time\" content=\"2021-09-03T08:32:45+00:00\" \/>\n<meta name=\"author\" content=\"Mark\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/fin2me.com\/wp-content\/uploads\/2021\/09\/Fed-likely-to-announce-taper-in-November-former-Fed-official-says.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Mark\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/fin2me.com\/business\/fed-likely-to-announce-taper-in-november-former-fed-official-says\/\",\"url\":\"https:\/\/fin2me.com\/business\/fed-likely-to-announce-taper-in-november-former-fed-official-says\/\",\"name\":\"Fed likely to announce taper in November, former Fed official says - 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