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Fed signals early taper, but there is no immediate impact

The Fed continues to delink interest rate lift-off from tapering. Though the dot-plot of the September meeting hints towards one rate hike of 25 bps in 2022, Powell said “lift-off in policy rates” is not on its radar, as of now

September 24, 2021 / 09:09 AM IST
Fed signals early taper, but there is no immediate impact

Jerome Powell

PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

In the past couple of policy meets and at the Jackson Hole Symposium, the US Federal Reserve has finely calibrated its communication towards tapering bond purchases. Communication has moved from “going to start taper talks” to “taper talks” to a situation that broadly conditions are in place to start “tapering” of $120 billion government-backed bond purchases every month. In his last few media interactions, US Fed chair Jerome Powell has gradually prepared the market for his tapering decision. And now...

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