Fed’s Harker: Time to Think About Considering Tapering

The United States Federal Reserve might need to start thinking about how and when to reduce the large asset purchases, as the economy recovers from the Coronavirus pandemic, President of the Federal Reserve Bank of Philadelphia, Patrick Harker, said on Wednesday.

“We are planning to keep the federal funds rate low for long. But it may be time to at least think about thinking about tapering our $120 billion in monthly Treasury bond and mortgage-backed securities purchases.”

“We will remove accommodation carefully and methodically as the economy continues to strengthen.”

“Our goal here is to be boring,” he added.