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Powell Says No Rush to Taper Bond Purchases, Mum on Doing More

  • An eventual taper in bonds will be slow and careful, he says
  • The FOMC meets this month to consider asset purchase guidance
A reflection of Jerome Powell during a House Financial Services Committee hearing on Dec. 2.

A reflection of Jerome Powell during a House Financial Services Committee hearing on Dec. 2.

Photographer: Jim Lo Scalzo/EPA/Bloomberg

The Federal Reserve is in no hurry to taper its massive bond buying program, Chair Jerome Powell said Wednesday, though he didn’t signal that the U.S. central bank was ready to ramp it up either.

“Our priority remains supporting the economy until we are really well through this,” Powell told the House Financial Services Committee Wednesday, stressing the central bank’s determination to battle Covid-19. “We are going to keep our rates low and keep our tools working until we feel like we really are very clearly past the danger that is presented to the economy from the pandemic.”