To the surprise of nobody, the Fed announced that tapering at the rate of $15 billion/month will soon start. The mild surprise, tapering will start this month and will thus probably end in June. This expedited start to tapering will give the Fed more time between the end of tapering and the start of rate hikes, and that will largely depend on the level and direction of inflation in 22Q2. (Source: Dr. Elliot Eisenberg, the Bowtie Economist).
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