Fed may taper bond purchases earlier than expected, Bostic says

Article:

  • Atlanta Fed President Raphael Bostic says the central bank may taper bond purchases earlier than expected if the economy exceeds expectations at midyear, he said on Fox Business.
  • The remarks echo his comments on Monday, saying the purchases might be reduced later this year if vaccines boost the U.S. economic outlook.
  • The economic recovery will depend on the pace of vaccine distribution. If it’s slower “we will have a longer time period to really try to bridge and keep businesses and families secure,” he said.
  • Boston Fed President Patrick Harker, though, had said earlier today that he doesn’t expect the Fed to pull back from its bond purchases any earlier than very late in 2021.
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