The US Federal Reserve’s decision to taper is a “non-event”, according to industry experts, who said the move came as no surprise to markets.
The Fed announced on Wednesday (3 November) its plans to start scaling back its $120bn monthly bond buying programme, which has played a crucial role in buoying the US economy as it contends with the ongoing pandemic and rising inflation. Paul Craig, portfolio manager at Quilter Investors, said: "This is exactly what the market was expecting, and is exactly what has been delivered. Powell has been preparing the market well for a tapering this year, and there is no change today. Fed 'steps carefully' as it announces wind-up of $120bn monthly bond buying programme "Going too hard too...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
