Federal Reserve seen announcing bond taper in Nov, rate lift-off in 2023

The Federal Reserve will probably hint at its meeting next week that it is moving toward scaling back monthly asset purchases and make a formal announcement in November, according a Bloomberg survey of economists.

 

The survey of 52 economists also predicted the US central bank would hold interest rates near zero through 2022 before delivering two quarter-point increases by the end of the following year.

 

The Federal Open Market Committee meets for two days starting Tuesday and will issue a policy statement at 2 pm Washington time Wednesday.

 

Powell opens review of investment rules for Fed policy makers             

 

Fed Chair Jerome Powell has ordered a “fresh and comprehensive” examination of the central bank’s ethics rules around permissible financial holdings and activities by senior Fed officials.