Fed on track to taper in March; chances of December or January rise: Reuters poll

Another month of strong U.S. hiring and an unexpected drop in the jobless rate reported on Friday prompted several economists to bring forward their expectations for when the Fed will begin paring back its $85 billion of monthly bond buying. Nearly half, 29 of 63 economists, think the taper will happen in either December or January, before Janet Yellen is expected to take over from Ben Bernanke as chair of the Fed. The majority of economists polled, 33, still expect the Fed to start trimming its bond buying in March. "The recent employment data do increase the likelihood that the Fed could taper its asset purchases in December, but we believe the committee will continue to view declines in the unemployment rate as overstating the amount of improvement in labor markets," wrote economists at Barclays Capital.
Source: REUTERS


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