The Fed is reaching consensus that the asset downsizing should occur sometime this year, the chairman of the Fed said on Friday. Federal Reserve Bank of Philadelphia Patrick Harker to Yahoo Finance, according to Reuters.
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“FOMC President Powell’s speech established where the center of FOMC policy is.”
“The question is whether monetary policy is the right tool to tackle the current unemployment problems.”
“We expect to see many more job openings in August and more problems filling those positions.”
“We expect more labor market in September and October.”
“We should see the job market continue to recover as more people feel comfortable going back to work.”
“As more people get vaccinated, the barriers to going back to work will start to drop.”
“Increasing vaccines is the way to heal the job market and the economy.”
“Business contacts say that supply chain problems may last longer than they thought.”
“There is a risk of higher inflation occurring in a longer period of time than we think.”
“Looking at which sectors are seeing higher inflation and if there is a spill over to other sectors that are not as affected by COVID.”
“Clearly there is a risk that inflation will be higher than I would like the Fed to do.”
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