Atlanta Fed president, Raphael Bostic, remarks in an interview with the WSJ
- Does not expect a call on tapering at this month's FOMC meeting
- But believes Fed will be able to taper later this year
- Recent data calls for more time before a decision to be made
- But still thinks tapering some time this year will be appropriate
- When it is time to do so, "faster is better than slower"
- Economy is in a fairly strong position
- Delta variant has slowed economic progress but has not stopped it
- Full interview
There is a subtle shift in the Fed's taper narrative as the US non-farm payrolls miss on Friday last week sowed some seeds of doubt. But for now, policymakers remain convinced that they will be tapering by year-end still.
Williams' remarks yesterday was already evident that they won't make a call on that this month (not before seeing the September jobs report) but it does fit into expectation that they will at least acknowledge the start of taper discussions at the meeting at least.
