Powell Announces Fed Will Begin Tapering By End Of Year

The long-awaited Jackson Hole Summit has arrived. Chairman Powell gave his speech at 10 am EST on Friday and announced that the Central Bank was likely to begin tapering before the year ends while keeping his options open due to the Delta variant. The symposium was held virtually for the second consecutive year due to concerns about the pandemic.

Powell spent most of the speech making the case that inflation is transitory. According to the Fed Chief, the mighty forces of globalization and te...

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