Rosengren on CNBC
- Says his preference would be to stat tapering bond purchases in the fall, potentially October or November, no later than December
- If we get another strong jobs report be would be supportive of Sept taper announcement
- My view is that substantial further progress on inflation has been met
- Employment is coming from opening up the economy, not much in construction and motor vehicle parts
- We're not at full employment
- I expect inflation "just a little bit" over 2% next year but we'll have to see if that outcome takes place
- If we see wages go up much more quickly than we anticipate that would be a reason to hike sooner, but I'm not anticipating that
- Delta is a problem, especially if we have people nervous about going to restaurants, going on planes and staying in hotels. It would be worrisome if people stop doing activities that people started doing again
Rosengren has previously stated his view on announcing a taper in September, so this isn't a big surprise. He's a voter in 2022.
My best guess is that a Sept taper isn't coming but there might be a dissent from Bostic. It would be a bigger surprise if Waller dissented, as he's a governor.
Next year with Rosengren, Bullard and George voting, things could get interesting if the hawks begin to feel behind the curve.
