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Quantitative easing (QE) tapering premature
By Lee Kyung-min
The Bank of Korea will have room for monetary policy easing following the continued ultra-dovish stance expressed by the U.S. Federal Reserve (Fed), last week.
The Fed held its top policy-making committee meeting Jan. 26 and 27 (local time) to decide how best to navigate increasing challenges brought on by the COVID-19 pandemic amid a dimmer short-term economic outlook.
A notable factor in a possible policy stance shift was a change in the composition of the Federal Open Market Committee (FOMC), as four of the committee members are replaced each year. The four new voting members ― San Francisco s Mary Daly, Chicago s Charles Evans, Atlanta s Raphael Bostic and Richmond s Thomas Barkin ― are reportedly more dovish compared to the presidents of the Minneapolis, Philadelphia, Dallas and Cleveland Fed banks that they replace. Cleveland s Loretta Mester, Minneapolis Neel Kashkari, Dallas Robert Kaplan, and Philad