Too early to begin throwing around numbers on how much tapering the Federal Open Market Committee will announce?
The meeting today, September’s, in brief:
- Powell was surprisingly hawkish in essentially precommiting to a Nov taper announcement along with a mid-year timeline of when it would wrap up. Combine that with a hawkish shift in the dots
- As we approach the next meeting, November 2 and 3, speculation will ramp up on the amount of the taper. Do I have an opening bid? 5bn? 10? And we get a tantrum?
