Australian fund manager sees start of Fed taper in late 2021 or early 2022

Author: Eamonn Sheridan | Category: Central Banks

Via Shane Oliver, Head of Investement Strategy & Chief Economist at AMP Capital

Notes that the US FOMC dots are now showing 2 hikes in 2023
  • with the Fed more upbeat on outlook

Powell seemed more dovish in press conference though

  • downplayed the dots (take "with a grain of salt") 
  • but said Fed now "talking about talking about tapering" but "substantial further progress still a ways away"

Formal taper talk is likely to start at the next Fed meeting with tapering likely from later this year/early next

  • 2023 for the first Fed rate hike seems a reasonable expectation

Separately Oliver notes on the RBA

  • we still first RBA hike in 2023

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