Fed Speeds Up Tapering, Projecting 3 Rate Hikes in 2022

Fed Speeds Up Tapering, Projecting 3 Rate Hikes in 2022
Federal Reserve Chair Jerome Powell testifies during a Senate hearing at the Hart Senate Office Building in Washington, on Sept. 28, 2021. Kevin Dietsch/Pool via Reuters
Emel Akan
Andrew Moran
Updated:
The Federal Reserve announced on Dec. 15 that it will end its aggressive pandemic-era stimulus sooner than expected as inflation is becoming “more persistent.”

The central bank will speed up its tapering of bond purchases, bringing the monthly drawdown to $30 billion versus $15 billion announced last month. This would conclude the tapering process in March, paving the way for earlier interest rate increases.

Emel Akan is a senior White House correspondent for The Epoch Times, where she covers the policies of the Trump administration. Previously, she reported on the Biden administration and the first term of President Trump. Before her journalism career, she worked in investment banking at JPMorgan. She holds an MBA from Georgetown University.
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