Dollar jumps after Fed officials' taper talk stirs markets

  • 8/26/2021
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Aug 26 (Reuters) - Dallas Federal Reserve President Robert Kaplan suggested on Thursday that he continues to expect the Fed to start raising interest rates next year, after what he hopes to be an eight-month-long process of phasing out its monthly asset purchases, starting in October. “I don’t see anything that is likely to change my submission materially,” he told Yahoo Finance, referring to the economic projections he and other Fed policymakers submit each quarter, most recently in June when he penciled in an expectation for a 2022 start to Fed interest rate hikes. A new round of projections are due next month. “Acting sooner on asset purchases may give us the ability to be more flexible and patient on the fed funds rate down the road.” (Reporting by Ann Saphir Editing by Chris Reese) Our Standards: The Thomson Reuters Trust Principles.

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