Fedâs Harker says itâs time to âthink about thinking aboutâ tapering By Syndicated Content
By Jonnelle Marte
(Reuters) â As the U.S. economy continues to recover from the coronavirus crisis and the labor market rebounds, it may be time for Federal Reserve policymakers to start thinking about the best way to slow the pace of its asset purchases, Philadelphia Fed Bank President Patrick Harker said on Wednesday.
âWeâre planning to keep the federal funds rate low for long,â Harker said during remarks prepared for a virtual event. âBut it may be time to at least think about thinking about tapering our $120 billion in monthly Treasury bond and mortgage-backed securities purchases.â
As the U.S. economy continues to recover from the coronavirus crisis and the labor market rebounds, it may be time for Federal Reserve policymakers to start…
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Fed’s Harker says he does not anticipate inflation running out of control
It is unlikely that inflation will run out of control this year as the U.S. economy rebounds from the coronavirus crisis, and if it does, the Federal Reserve has the tools to deal with it, Philadelphia Fed Bank President Patrick Harker said on Tuesday.
Policymakers will track the velocity of inflation changes, not just the level, Harker said during a virtual discussion organized by the Delaware State Chamber.
Fed officials want inflation to run above the central bank’s 2% target over the longer term to make up for extended periods of price changes running below the desired level, he said.
Hibbing, MN, USA / 93.9 WTBX
Apr 13, 2021 12:20 PM
NEW YORK (Reuters) - It is unlikely that inflation will run out of control this year as the U.S. economy rebounds from the coronavirus crisis, and if it does, the Federal Reserve has the tools to deal with it, Philadelphia Fed Bank President Patrick Harker said on Tuesday.
Policymakers will track the velocity of inflation changes, not just the level, Harker said during a virtual discussion organized by the Delaware State Chamber.
Fed officials want inflation to run above the central bank s 2% target over the longer term to make up for extended periods of price changes running below the desired level, he said.