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US Fed member believes that it is necessary to start tapering this year

8 Sep 2021 11:53 AM

US FOMC member James Bullard said the US Federal Reserve should move forward with a plan to dial back its massive stimulus program despite slowing job growth last month.

He said, during an interview with the Financial Times: There is a great demand for employment and there are job opportunities that outnumber the unemployed. He explained: If we can make workers equal and the epidemic situation is better under control, then we will certainly have a very strong labor market during the next year.

Bullard said in late August that he would like the bank to start reducing its asset purchases soon and finish those purchases by the first quarter of next year.

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