US economy

Fed May Withdraw Pandemic Support Early as Inflation Persists


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Fed May Withdraw Pandemic Support Early as Inflation Persists

Jerome H. Powell, the Federal Reserve chair, said the Fed would consider ending its bond-buying program earlier than planned due to high inflation pressures, but that it would monitor risks from the new Omicron variant of the coronavirus before making a decision.

At this point, the economy is very strong and inflationary pressures are high, and it is therefore appropriate, in my view, to consider wrapping up the taper of our asset purchases, which we actually announced at the November meeting, perhaps a few months sooner. And I expect that we will discuss that at our upcoming meeting in a couple of weeks. Of course, between now and then, we will see another labor market report, another inflation report, and we’ll also get a better sense of the new Covid variant as well before that — before we make that decision.

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