- Richmond Fed president Barkin: It could take a few months to hit Fed's taper benchmark
Market news
11 August 2021
Richmond Fed president Barkin: It could take a few months to hit Fed's taper benchmark
- Says he is not focused on calendar in taper discussion
- Wants to see more improvement in job market and particularly a further increase in employment-to-population ratio
- Feels inflation may have "crested" but is not dismissing risks that supply shocks and other dynamics may keep it higher for longer than expected
- Says that Fall will be a key test; if workers do not return in significant numbers it could challenge assumptions about maximum employment
- Delta variant effect remains an open question
- When taper does begin, would prefer something simple and easy to explain to markets
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