In testimony on Capitol Hill today the Fed Chair clearly changed his tune on inflation. He said that “he thinks reducing the pace of monthly bond buys can move quicker than the $15 billion a month schedule announced earlier this month.” He added “that at this point the economy is very strong and inflationary pressures are higher, and it is therefore appropriate in my view to consider wrapping up the taper of our asset purchases…perhaps a few months sooner,” and that “I expect that we will discuss that at our upcoming meeting.”
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