Kansas City Fed president, Esther George, speaks to Fox Business
- It is time to start altering Fed accommodation
- Fed should begin decreasing bond purchases this year
- There has been good progress on the economy, inflation is coming in strong
- That suggests opportunity to dial back asset purchases
- Less precise about dates than saying sooner rather than later
- But outlook suggests Fed can begin making adjustments this year
This pretty much further diminishes any major announcement from the Jackson Hole symposium tomorrow, though the fact that it had gone virtual already did send a clear enough message on what to expect at the end of last week.
It looks like the timeline will go as per the following for the Fed:
- September - Officially kicking off/acknowledging taper discussions
- November - Official announcement to begin tapering
- December - Start of tapering process
