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Harker Says Fed May Begin Paring Bond Purchases in Late 2021

  • Philadelphia Fed chief sees economy rebounding in second half
  • Says ‘steady as she goes until’ really see the economy healing
Patrick Harker
Patrick HarkerPhotographer: Cooper Neill/Bloomberg
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The U.S. central bank may begin paring back its bond-buying program as soon as the end of this year, Federal Reserve Bank of Philadelphia President Patrick Harker said.

“I could see, potentially, that occurring at the very end of 2021 or early 2022. But it is all going to depend on the course of the economy, which will depend on the course of the virus,” Harker said Thursday while answering questions after a speech at a virtual event.