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Fed’s Harker Is Ready to Taper Fed Bond Buying Stimulus Effort

Fed’s Harker Is Ready to Taper Fed Bond Buying Stimulus Effort

Federal Reserve Bank of Philadelphia President Patrick Harker said Wednesday he supports slowing the pace of central bank asset buying soon but sees no urgency to raise the central bank’s short-term rate target.

“I am in the camp that believes it will soon be time to begin slowly and methodically—frankly, boringly—tapering our $120 billion in monthly purchases of Treasury bills and mortgage-backed securities,” Mr. Harker said in a text of his speech.

Source: https://www.wsj.com/articles/feds-harker-is-ready-to-taper-fed-bond-buying-stimulus-effort-11632921425?mod=pls_whats_news_us_business_f