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23 Aug 2013
Markets searching for tapering signals in Jackson Hole
FXstreet.com (Córdoba) - The biggest personalities in the central banks world are absent from the Jackson Hole annual symposium that started today in Wyoming, US.
Fed Chairman Ben Bernanke absents for the first time since his term began in 2006. Mario Draghi from the European Central Bank and Mark Carney Governor of the Bank of England, didn’t attend either, which supports the idea that this year the conference will culminate on Saturday with no big news.
However, market participants will still be paying attention to the symposium searching for any signals about when the Fed will begin to taper its $85 billion bond purchase program.
Three Fed speakers spoke today. San Francisco Fed President John Williams said that any change in bond purchases will depend on data, but that the program is set to end before the end of the year.
Meanwhile, Atlanta Fed Bank President Dennis Lockhart said he would support scaling back the Fed’s bond buys in September, while on the other hand, St. Louis Fed President James Bullard said the central bank should not rush into the tapering. "I don't think we have to be in any hurry," ... "Inflation is running low and we have got mixed data on the economy", Bullard said.
Fed Chairman Ben Bernanke absents for the first time since his term began in 2006. Mario Draghi from the European Central Bank and Mark Carney Governor of the Bank of England, didn’t attend either, which supports the idea that this year the conference will culminate on Saturday with no big news.
However, market participants will still be paying attention to the symposium searching for any signals about when the Fed will begin to taper its $85 billion bond purchase program.
Three Fed speakers spoke today. San Francisco Fed President John Williams said that any change in bond purchases will depend on data, but that the program is set to end before the end of the year.
Meanwhile, Atlanta Fed Bank President Dennis Lockhart said he would support scaling back the Fed’s bond buys in September, while on the other hand, St. Louis Fed President James Bullard said the central bank should not rush into the tapering. "I don't think we have to be in any hurry," ... "Inflation is running low and we have got mixed data on the economy", Bullard said.