Remarks from ING, looking ahead to the late August central bank symposium at Jackson Hole:

  • We expect to hear clear hints at the Jackson Hole Conference that the Fed is now discussing the merits of QE tapering
  • this will be developed further at the September FOMC which is just four weeks later
  • at that point we suspect the Fed will indicate the market should be braced for a formal QE taper announcement
  • with outlined path forward at the December FOMC

Bolding above is mine. ING comments reported by Reuters.