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Bond taper could be done by mid-2022 By Reuters

by Mike Robinson

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© Reuters. FILE PHOTO – Federal Reserve Chair Jerome Powell gives evidence during a U.S. House Oversight and Reform Select Subcommittee hearing about the coronavirus crises, held on Capitol Hill, Washington. U.S.A. June 22, 2021. Graeme Jennings/Pool via REUTERS/File Photo

(Reuters) – The Federal Reserve could wrap up the tapering of its bond purchases by the middle of next year, Federal Reserve Chair Jerome Powell said on Wednesday.

Powell spoke at the press conference that followed the Fed’s recent policy statement. In it, the Fed stated “a moderation of asset purchase pace may soon be justified” but didn’t mention the length of this process. In support of the recovery process from the coronavirus pandemic, the Fed continues to buy $120 billion per month of Treasuries (and mortgage-backed Securities) in order to purchase Treasuries.

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