URGENT: U.S. Fed chair shows support to start reducing bond-buying this year

Politics Economy Society

U.S. Federal Reserve Chairman Jerome Powell on Friday signaled his support to start scaling back later this year a large-scale bond-buying program that was launched in response to the coronavirus pandemic. Attending virtually the Fed's annual symposium at Jackson Hole, Wyoming, Powell said he was of the view that "it could be appropriate to start reducing the pace of asset purchases this year" at the bank's meeting last month, and that the economy has since seen "more progress in the form of a strong employment report for July."

Kyodo News

Kyodo News Society