Federal Reserve Chairman Jerome Powell has all but announced that the central bank will take the first steps in paring back its extraordinary monetary stimulus, hoping that markets will not sour in response.
Commentary from Fed officials over the last few weeks have pointed to an announcement on Nov. 3 that the central bank will slow its quantitative easing program.
For months, markets have been wondering when the Fed would “taper” the pace of its U.S. Treasuries and agency mortgage-backed…
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