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Rates Could Begin Rising by Mid-2022

Fed bond-buying program might begin tapering in November and end next year, with rate hikes likely to start thereafter.

By Matthew Boesler & Steve Matthews | September 22, 2021 at 11:24 PM

Federal Reserve Chair Jerome Powell said the U.S. central bank could begin scaling back asset purchases in November and complete the process by mid-2022, after officials revealed a growing inclination to raise interest rates next year.

Powell, explaining the U.S. central bank’s first steps toward withdrawing emergency pandemic support for the economy, told reporters Wednesday that tapering “could come as soon as the next meeting.”  That refers to the policy gathering on November 2nd and 3rd, though Powell left the door open to waiting longer if needed and stressed that tapering was not meant to start a countdown to liftoff from zero interest rates.

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