Federal Reserve officials are moving toward agreement on a timetable that would see the central bank begin scaling back its easy-money policies in about three months if the economic recovery continues, The Wall Street Journal reported Monday . The report, citing public statements and interviews, said a string of strong employment reports have bolstered the case for the Fed to announce its next meeting, on Sept. 21-22, its intentions to begin tapering its monthly asset purchases. The tapering could potentially begin as soon as its following meeting in November, the report said. Some officials have called for ending the purchases by mid-2022, according to the Journal. The Treasury market took the report in stride, with the yield on the 2-year Treasury note (XTUP:BX:TMUBMUSD02Y) down around 1 basis point at 0.205%, while the 10-year yield (XTUP:BX:TMUBMUSD10Y) was down around 1.5 basis points at 1.283%.
Aug. 16, 2021, 7:55 a.m. EDT