Hawks vs doves: US Federal Reserve divided over when to dial back economic support

Financial Times/Colby Smith and James Politi

Repost from 7-28-2021

photo of Fed chairman Jerome Powell delivering Congressional testimony“Jay Powell, the chair of the Federal Reserve, is facing a growing rift among top officials at the US central bank over when to start withdrawing the huge injection of monetary stimulus that was deployed at the onset of the pandemic.”

USAGOLD note: For those seeking clarity on where individual members of the FOMC now stand on tapering and rates, this article offers a full rundown and is well worth a read at the link. It identifies the hawks, doves and centrists and where Fed leadership itself stands at this time. We should know more about the outcome this afternoon, but few are expecting any major surprises despite the rise of inflation and Delta variant cases.

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