It's almost taper time, and rate hikes may not be all that far behind. The Fed signaled it'll probably begin cutting bond purchases in November and the dot plot revealed the FOMC is now evenly split on whether to start tightening in 2022. Jerome Powell said ending the stimulus program by the middle of next year is "likely to be appropriate," while adding that doesn't mean rate increases would follow immediately.
The Fed raised its 2022 inflation outlook to 2.2% from 2.1%, while holding the 2023 forecast at 2.2%.
Powell said stock trading policies at the central bank clearly are "not adequate" for sustaining public trust after revelations about transactions by two regional presidents prompted an internal review.
He also pledged not to interfere with the bank's next banking watchdog, in a message to progressives worried about his possible renomination.
The Fed raised its 2022 inflation outlook to 2.2% from 2.1%, while holding the 2023 forecast at 2.2%.
Powell said stock trading policies at the central bank clearly are "not adequate" for sustaining public trust after revelations about transactions by two regional presidents prompted an internal review.
He also pledged not to interfere with the bank's next banking watchdog, in a message to progressives worried about his possible renomination.