Powell says taper test has been met ‘with regard to inflation’
Fed chair tells Jackson Hole conference that slowing QE this year “could be appropriate”
Federal Reserve Chairman Jerome Powell signalled that the US economy is nearing the milestones necessary for the central bank to taper its asset purchases.
The Federal Open Market Committee’s test for a taper requires “substantial further progress” towards maximum employment and a 2% average inflation rate over time. Powell told the Jackson Hole conference on August 27 that “the ‘substantial further progress test’ has been met for inflation”.
He added that there has been “clear progress
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