On September 22, Federal Reserve Chair Jerome Powell said the U.S. central bank could begin scaling back asset purchases this November and complete the process by mid-2022. After, Powell told reporters Wednesday that tapering “could come as soon as the next meeting.” Powell also said he didn’t expect the Fed to begin rate increases until after completing the taper process, which would wrap up “sometime around the middle of next year.” Fed officials also published updated quarterly projections (including 2024 for the first time), known as the “Dot Plot”, which showed officials are now evenly split on whether or not it will be appropriate to begin raising the federal funds rate as soon as next year, according to the median estimate of FOMC participants.
Amaury de Barros Conti
Partner | Vice President Investment
210-930-9409
aconti@sendero.com
