, Columnist
Fed Tapering in Six Weeks? Don’t Bet on It
The Federal Reserve made no change in monetary policy at its latest open market committee meeting; don't expect much of a change at its next one either.
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If the Federal Reserve plans to start tapering the pace of its $85 billion in monthly asset purchases, as many analysts expect it to in September, there was no hint of it in the statement released at the end of today's meeting.
In fact, the biggest change inthe statement from June to July suggests just the opposite. "Inflation persistently below its 2 percent objective could pose risks to economic performance," the Fed said before qualifying its concern. The policy committee "anticipates that inflation will move back" toward its target from the current 1 percent year-over-year rate.