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Friday, December 3, 2021

Fed to start faster emissions cuts from January: Goldman Sachs

Federal Reserve Chairman Jerome Powell listens as President Joe Biden appoints him to a second four-year term in the Southern Courtroom of the Eisenhower Administration Building at the White House in Washington on November 22, 2021. (Kevin Lamarck / Reuters)

LONDON. The US Federal Reserve is likely to double its rate of cutting its monthly bond purchases from January to $ 30 billion and scale back its pandemic bond buying scheme by mid-March, Goldman Sachs strategists said in a daily note on Thursday.

“The increased willingness to accelerate the gradual decline likely reflects both slightly higher than expected inflation over the past two months, and greater satisfaction among Fed officials that the faster pace is not shocking financial markets,” analysts said. led by Jan Hatzius in a conversation with a client. Note.

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Despite an accelerated calendar of cuts, Goldman expects the Fed to start raising interest rates only from June, a total of three times in 2022. The U.S. Investment Bank is one of several banks that recently raised their expectations for a 2022 interest rate hike to three. from two.

Minutes of the central bank’s November 2–3 policy meeting showed that various politicians said they would be willing to accelerate the cut in their bond buying program if inflation persists, and will hike rates faster.


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