Fed’s Williams: US economy on track for tapering
John Williams, the President of the New York Federal Reserve Bank, shared during his videoconference appearance on Wednesday that the Delta variant of the COVID-19 virus posed an extra “layer of uncertainty” and is weighing on “consumer spending and jobs”.
Overall, Williams believes despite the recovery slowdown the economy is still on track for Fed to begin tapering its bond-buying program this year. He will, however, continue to track related employment data and other economic reports.
The Fed official added that even after the asset purchases end, Fed’s stance on monetary policy will continue to support further economic recovery.
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