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Nov 02 - 06:55 PM

USD: FOMC Unlikely To Push Back Against Market Pricing - Barclays

By eFXdata  —  Nov 02 - 03:00 PM

Barclays Research discusses its expectations for tomorrow's FOMC policy meeting.

"We look for the Fed to announce that the tapering of asset purchases will begin in November, with monthly reductions in the pace of $15bn per month ($10bn per month in Treasury securities and $5bn per month in agency MBS). This would allow tapering to be concluded by mid-2022, providing optionality for rate hikes in the second half of next year, if needed," Barclays notes. 

"We expect Chair Powell to emphasize that the decision to taper is independent from the decision to lift rates, but we do not expect the Fed to push back strongly against current market pricing, which looks for about 50bp of policy rate firming in 2022," Barclays adds.

Barclays Research/Market Commentary


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