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Powell: The US economy no longer needs increased support from asset purchases

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Wednesday, December 15, 2021 - 20:22
Point Trader Group
Powell: The US economy no longer needs increased support from asset purchases

Federal Reserve Chairman Jerome Powell said that the US economy is improving rapidly and no longer needs the "increased support" provided by its asset purchases program, which makes it appropriate to end that program sooner than previously expected.

"The economy no longer needs increasing amounts of policy support," he added.

Powell's comments at a news conference came after the US central bank doubled the pace of reducing its bond purchases at its latest monetary policy meeting, which concluded today.

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