Too early to begin throwing around numbers on how much tapering the Federal Open Market Committee will announce?
The meeting today, September's, in brief:
- Powell was surprisingly hawkish in essentially precommiting to a Nov taper announcement along with a mid-year timeline of when it would wrap up. Combine that with a hawkish shift in the dots
That's from the wrap-up, link here for more.
More detail here, read from the bottom up:
- FOMC statement: If progress continues as expected, a taper may soon be warranted.
- Powell opening statement: A gradual taper that concludes around the middle of next year is likely to be appropriate
- The FOMC central tendencies and dot plot from the September 2021 meeting
- The full FOMC statement from the September 2021 meeting
As we approach the next meeting, November 2 and 3, speculation will ramp up on the amount of the taper. Do I have an opening bid? 5bn? 10? And we get a tantrum?