“I do think we need to tapering and winding down the bond purchases,” said Raphael Bostic, president of the Atlanta Federal Reserve. “Let’s get it over sooner than later.”
The president of the Atlanta Federal Reserve said the central bank probably should end its bond-buying program by early next spring if the economy keeps growing rapidly and inflation stays high.
Yet Bostic and an increasing number of other Fed officials, including Chairman Jerome Powell, have indicated they might end the program even sooner, perhaps by the end of March. The Atlanta Fed president in October was the first senior Fed official to say the central bank to should junk the use of the word “transitory” to describe the surge in inflation this year. Powell followed suit a month later.The longer the current bout of high inflation persists, Bostic said, the bigger the danger that consumers and businesses will come to expect higher inflation.
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