Friday (August 20) news was indicative of no taper announcement likely to come from Federal Reserve Chair Powell at the Jackson Hole symposium.
If you are just waking up in Asia, I hope you had a great weekend, here's my summary of Friday's key taper-talk developments from a little earlier:
The main point is that the Jackson Hole Summit will be held virtually instead of face-to-face, and that markets are reading it as a signal that there will be no taper talk from Powell on Friday.
Also from Friday, the loudest proponent on the FOMC of a taper, Fed Dallas head Kaplan, has dialled back his hawkishness a notch in the wake of the spread of the virulent Delta mutant:
- More from Kaplan: Mask, vaccines the only tools we have in this "war", and we are in a war
- Kaplan: Sees GDP to grow 6.5%. PCE inflation at 3.8%-3.9%
- Fed's Kaplan: Delta variant limiting production output
No trip to the mountains this year:
