Powell speech: Appropriate to wrap up QE taper a few months sooner
Fed Chair Jerome Powell, who is currently testifying before the Committee on Banking, Housing, and Urban Affairs of the US Senate alongside US Treasury Secretary Janet Yellen, said it may be appropriate to consider wrapping up the bank's QE taper a few months sooner.
"Most recent data show elevated inflation pressures, rapid improvement in the labor market, strong spending."
"At this point, the economy is very strong, inflationary pressures high."
"Appropriate to consider wrapping up taper a few months sooner."
"Will talk about speeding up taper at coming Fed meeting."
"Will know more about Omicron within a week or 10 days."
"Only then can assess impact on economy."
"For now Omicron is a risk and is not baked into forecasts."