Fed Ready for September Taper After Shocking Market, Meyer Says
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Federal Reserve policy makers are ready to start tapering bond purchases in September after Chairman Ben S. Bernanke shocked markets by announcing a conditional timetable, said former Fed Governor Laurence Meyer.
“They have made a decision virtually to go in September unless the data disconfirms their expectations of the continued improvement of the economy,” Meyer said of the Fed policy makers’ meeting on June 18-19. “That was the shock of the meeting to have a schedule thrown out at this time with three months of employment data still ahead.”