Make Kitco Your Homepage

Fed's Powell: Appropriate to consider wrapping up taper sooner

Kitco News

Nov 30 (Reuters) - U.S. Federal Reserve Chair Jerome Powell on Tuesday said it would be appropriate for the central bank to consider wrapping up its "taper" of large-scale bond purchases more quickly based on the strength of the economy and high rate of inflation.

The Fed kicked off its taper earlier this month and announced a reduction schedule that would complete it around mid-year but is widely expected to revisit that timeline at its next meeting in two weeks. Powell's comment came during testimony to the Senate Banking Committee.

Reporting By Dan Burns Editing by Chizu Nomiyama
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.