Markets Close at Records as Fed Lays out Taper Timeline


And we start this hour with all those fed headlines at sent markets soaring today. The s. and p. nasdaq closing at new records. The dow jumping more than two hundred points. This is jerome. Powell seemed to set a timetable for the taper but tamp down expectations for any rate hikes. Let's get right to see policeman who's been following all the action in the virtual jackson hole this year steve. Yeah virtual jackson hole where real impacts on the market says you said fisher j at outright. He expects the fed would start tapering later this year if the economy continues to improve but he left him so flexible by not offering us specific month for the announcement or the beginning of the taper. Powell said inflation it's passed the test to start tapering employment on the way to a passing grade. The outlook for the labor market has brightened considerably in recent months after faltering last winter job gains have risen steadily over the course of this year and now average eight hundred thirty two thousand over the past three months of which almost eight hundred thousand have been in services. Powell said the delta very represented a risk. But he's still expects good job growth in the months ahead. That inflation will likely prove to be transitory. In that rate hikes require a higher standard than tapering does but members of the federal market committee interviews on. Cnbc right here. they're pretty definitive. It was time for the fed to ease back on the throttle. my view would be. Let's start to taper and let's let's do it quickly. Let's not have this linger you know the last time we did the taper. The economy was in a much weaker position than it is right now. And because of that there was some uncertainty that the taper itself could trigger some some weakness further weakness in the economy. I just don't think we're in that position now

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