Powell Confronts Fed’s Taper Ambitions at Symposium

From bnnbloomberg.ca

Federal Reserve Chair Jerome Powell is expected to hint at prospects for an eventual reduction of monetary stimulus when he gives a long-awaited speech on Friday for the Jackson Hole symposium. The Kansas City Federal Reserve’s annual event, being held virtually again amid a coronavirus outbreak, is an opportunity for the U.S. central bank chief to shed light on officials’ intentions after minutes of the July 27-28 meeting showed most of them judged it appropriate to start slowing asset purchases this year. The Fed is currently buying about $120 billion of assets per month -- $80 billion of Treasury securities ... (full story)