Fed’s Waller Sees Tapering Next Month, Rate Hike ‘Some Time Off’

The Federal Reserve should begin tapering its bond-buying program next month, though interest-rate increases are probably “still some time off,” Fed Governor Christopher Waller said.

“While there is still room to improve on the employment leg of our mandate, I believe we have made enough progress such that tapering of our asset purchases should commence following our next FOMC meeting, which is in two weeks,” Waller said Tuesday in remarks prepared for a virtual speech, referring to the Nov. 2-3 meeting of the policy-setting Federal Open Market Committee.