Economics

Powell Weighs Earlier End to Bond Tapering Amid Hot Inflation

Fed chair says could wrap up purchases a few months earlier
Says it’s time to retire word ‘transitory’ for price increases

WATCH: Powell explains why it may be appropriate for the Fed to consider wrapping up the taper of asset purchases “perhaps a few months sooner” during testimony Tuesday.

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By Craig Torres, Matthew Boesler, and Christopher Condon

November 30, 2021 at 10:59 AM EST

Updated on

November 30, 2021 at 1:58 PM EST

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Federal Reserve Chair Jerome Powell said officials should weigh removing pandemic support at a faster pace and he retired the word “transitory” to describe stubbornly high inflation, though a new Covid-19 strain remains a risk.

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Powell Weighs Earlier End to Bond Tapering Amid Hot Inflation