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Fed on Track for Faster Taper; Bullard Says Jobs ‘Quite Strong’

  • While payrolls miss, unemployment rate shows tight market
  • Powell said a faster taper should be discussed at next meeting
    
Photographer: Stefani Reynolds/Bloomberg
Updated on

Federal Reserve policy makers are likely to follow through with a faster reduction of their of asset purchases after U.S. unemployment fell sharply last month, even as payroll gains slowed.

“Except for the headline number, the report seemed quite strong across the board,” said Federal Reserve Bank of St. Louis President James Bullard, who favors ending the taper process in March. “The household survey was up 1.1 million. That suggests there are probably revisions coming to the nonfarm payrolls side.”