Fed's Bostic says it would be reasonable to begin tapering in October

Remarks by Atlanta Fed president, Raphael Bostic

• Reasonable to trim bond purchases in October if US job gains stay strong
• Thinks "substantial progress" benchmark to start tapering would be met if August job gains match those in June, July
• Wants taper process to finish "as quickly as possible"
• Not objected to end tapering in Q1 2022
• Foundations of inflation are quite strong

This adds to the chorus of hawkish remarks by Fed policymakers yesterday here.

As much as Fed members are growing more bold in sounding out their views on tapering, I would not expect Powell to take the same road in his speech today.

But at least this still reaffirms the timeline that the Fed will be looking to taper before year-end, with Bostic's take on the matter one of the quicker ones.