Federal Reserve officials on Wednesday said that a tapering of bond-buying 'may soon be warranted' and they penciled in a rate hike in 2022, earlier than...
Federal Reserve officials on Wednesday sent a strong signal that they are almost ready to taper their bond-buying and said they expect to raise interest rates by late 2022, sooner than they had expected in June.
The Fed has been buying $80 billion worth of Treasurys and $40 billion worth of mortgage-backed securities each month since last summer to keep long-term interest rates low and spur demand. He said Fed officials think its appropriate for the tapering program to be gradual and end “around the middle of next year.
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