“Fed Should Get Going” – Stocks Stumble As Fed’s Bullard Says Taper Should Be Over By Q1 2022
Jim ‘bad cop’ Bullard is back on the tape, teling CNBC this morning that The Fed should “get going” on the taper and that he expects it to end its bond purchase scheme by Q1 2022.
Bullard also added that “getting taper done early gives The Fed options on raising rates.”
Interesting Bullard raised the fact that inflation hits the poorest in the country first and The Fed’s “inclusive employment” mandate means they should do more to control it.
Finally, Bullard warned that “financial stability concerns are a good reason to taper.”
And stocks didn’t like that…
Treasury yields spiked higher on the headlines…
And the dollar is on the rise too…
Remember what you’re told by the clever people on TV though, this market is driven by fundamentals, not merely The Fed.
Thu, 08/26/2021 – 08:42