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schema:articleBody	Some Federal Reserve officials believe it may soon be time to consider tapering asset purchases meant to aid the US economy's recovery from the pandemic, according to meeting minutes released Tuesday. "A number of participants suggested that if the economy continued to make rapid progress toward the committee's goals, it might be appropriate at some point in upcoming meetings to begin discussing a plan for adjusting the pace of asset purchases," according to minutes from the meeting of the Fed's policy setting committee last month. The minutes from the Federal Open Market Committee (FOMC) meeting held April 27 and 28 contain some of the first instances of the central bank considering an end to its easy money policies rolled out in March 2020 as the economy shut down to stop Covid-19 from spreading. At last month's meeting, Fed officials kept its benchmark lending rate at zero and did not change its monthly asset purchases of at least $80 billion per-month in Treasury securities and $40 billion in mortgage-backed securities. However Rubeela Farooqi of High Frequency Economics said the mention of tapering in the minutes was not a surprise, and rather a signal that some committee members believe the Fed may have to hike rates sooner than expected. "Remember, four members in the March forecast round expect to raise rates in 2022, up from zero in December; for that to (happen), tapering can't be delayed much into next year, and the Fed is committed to signaling a shift to markets well in advance," Farooqi said in an analysis. The minutes also showed some central bankers wondering if supply chain bottlenecks that are driving prices up as the world's largest economy bounces back from the pandemic are more severe than first believed. "A number of participants remarked that supply chain bottlenecks and input shortages may not be resolved quickly and, if so, these factors could put upward pressure on prices beyond this year," the minutes said. However most participants viewed long-range inflation in the range of the central bank's goal of two percent. cs/st
schema:headline	US Fed officials eyed tapering asset purchases: FOMC minutes
schema:mentions	Supply chain Inflation Pandemic Coronavirus disease 2019 Mortgage-backed security Federal Open Market Committee High Frequency Economics Farooqi United States Treasury security
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2021-05-19 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	neutral sentiment
http://data.cimple...readability_score	92 (xsd:integer)

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