Boston Fed President: It's Time to 'Begin Tapering Quickly' If Data Stays on Track
CryptoNewsTerminal Staff09 Aug, 2024
Boston Fed President: It's Time to 'Begin Tapering Quickly' If Data Stays on Track
Boston Fed President Susan Collins said that "if the data come in as we expect, it would be appropriate to begin tapering relatively quickly." Collins's comments come as the Federal Reserve is debating when to start reducing its asset purchases, which have been a key part of its efforts to support the economy during the pandemic. The Fed has been buying $120 billion of Treasury bonds and mortgage-backed securities each month, and many economists believe that it will begin to taper those purchases later this year. Collins is one of the more hawkish members of the Fed, and her comments suggest that she is in favor of starting to taper sooner rather than later. She said that the economy is "on a solid footing" and that the Fed should not wait too long to start reducing its support. It is important to note that Collins's comments are just her own opinion, and it is not clear if the rest of the Fed will agree with her. However, her comments do suggest that there is a growing consensus within the Fed that it is time to start tapering asset purchases. ```
