Economics
Fed’s Mester Backs November Taper; George Says Test Has Been Met
- Mester also sees rate liftoff conditions reached by end 2022
- Officials speak after Powell said a November taper possible
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The U.S. economy has met the Federal Reserve’s conditions for starting to reduce its asset purchases soon, two regional Fed bank presidents said Friday.
“I support starting to dial back our purchases in November and concluding them over the first half of next year,” Federal Reserve Bank of Cleveland President Loretta Mester said. Separately, Kansas City President Esther George said “the criteria for substantial further progress have been met,” referring to the central bank’s taper test.