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2021-08-24
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Powell unlikely to fire starting pistol for tapering at Jackson Hole<blockquote>鲍威尔不太可能因杰克逊霍尔的减缩而发射发令枪</blockquote>
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{"i18n":{"language":"zh_CN"},"detailType":1,"isChannel":false,"data":{"magic":2,"id":834621309,"tweetId":"834621309","gmtCreate":1629799214401,"gmtModify":1631890998841,"author":{"id":3583660072689907,"idStr":"3583660072689907","authorId":3583660072689907,"authorIdStr":"3583660072689907","name":"Zuoshiling","avatar":"https://static.tigerbbs.com/f2fc8ca6700334d697b886a1e8d95e15","vip":1,"userType":1,"introduction":"","boolIsFan":false,"boolIsHead":false,"crmLevel":12,"crmLevelSwitch":0,"individualDisplayBadges":[],"fanSize":9,"starInvestorFlag":false},"themes":[],"images":[],"coverImages":[],"extraTitle":"","html":"<html><head></head><body><p>Like thanks </p></body></html>","htmlText":"<html><head></head><body><p>Like thanks </p></body></html>","text":"Like thanks","highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"favoriteSize":0,"link":"https://laohu8.com/post/834621309","repostId":2161777691,"repostType":4,"repost":{"id":"2161777691","kind":"highlight","pubTimestamp":1629798945,"share":"https://www.laohu8.com/m/news/2161777691?lang=zh_CN&edition=full","pubTime":"2021-08-24 17:55","market":"us","language":"en","title":"Powell unlikely to fire starting pistol for tapering at Jackson Hole<blockquote>鲍威尔不太可能因杰克逊霍尔的减缩而发射发令枪</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=2161777691","media":"MarketWatch","summary":"A November announcement seems more likely, but strong jobs report could alter equation\nFed Chairman ","content":"<p>A November announcement seems more likely, but strong jobs report could alter equation</p><p><blockquote>11月份发布公告的可能性似乎更大，但强劲的就业报告可能会改变等式</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ccf044ab98780d1f80e4d5cae2c03f24\" tg-width=\"700\" tg-height=\"467\" width=\"100%\" height=\"auto\"><span>Fed Chairman Jerome Powell, left, and Mark Carney, former governor of the Bank of England, walk the grounds during the last in-person Jackson Hole economic symposium in 2019.</span></p><p><blockquote><p class=\"t-img-caption\"><span>美联储主席杰罗姆·鲍威尔（左）和英国央行前行长马克·卡尼在2019年最后一次杰克逊霍尔经济研讨会上走在会场。</span></p></blockquote></p><p> Federal Reserve Chairman Jerome Powell will be able to equivocate about when the central bank will start slowing down the pace of its bond-buying, essentially signaling a delay until November, economists said Monday.</p><p><blockquote>经济学家周一表示，美联储主席杰罗姆·鲍威尔将能够对央行何时开始放缓债券购买步伐含糊其辞，实质上是推迟到11月。</blockquote></p><p> The Fed chairman \"can do a 'on the <a href=\"https://laohu8.com/S/AONE.U\">one</a> hand and other the other hand,' leaving you with the sense he's not going to fire the starting pistol at the September meeting,\" said Vince Reinhart, chief economist at Mellon.</p><p><blockquote>美联储主席“可以对<a href=\"https://laohu8.com/S/AONE.U\">一</a>梅隆大学首席经济学家文斯·莱因哈特(Vince Reinhart)表示：“这让你感觉他不会在9月份的会议上打响发令枪。”</blockquote></p><p> Powell is expected to emphasize the risk management and repeat that the delta strain's impact remains unknown.</p><p><blockquote>鲍威尔预计将强调风险管理，并重申德尔塔毒株的影响仍然未知。</blockquote></p><p> Powell's messaging is helped by the fact that the Jackson Hole, Wyo., retreat was switched to a virtual single-day meeting on Friday instead of the traditional two-day event marked by Western-attire dinners, fishing and hiking, after a spike of recent COVID-19 cases in western Wyoming.</p><p><blockquote>在怀俄明州西部最近的新冠肺炎病例激增后，怀俄明州杰克逊霍尔的静修活动于周五改为虚拟的单日会议，而不是传统的为期两天的活动，以西式服装晚宴、钓鱼和徒步旅行为标志，这一事实有助于鲍威尔的信息。</blockquote></p><p> \"It's kind of hard for a central banker, who is meeting virtually with his colleagues because of a health risk, to assert that it's time to start slowing policy accommodation without acknowledging the health risk that can affect the economy,\" Reinhart said.</p><p><blockquote>莱因哈特表示：“对于一位因健康风险而与同事进行虚拟会面的央行行长来说，在不承认可能影响经济的健康风险的情况下，很难断言是时候开始放缓政策宽松了。”</blockquote></p><p> But Fed watchers think that the central bank will announce tapering, and launch it, before the year is out.</p><p><blockquote>但美联储观察人士认为，美联储将在年底前宣布并启动缩减规模。</blockquote></p><p> \"I view them as quite likely to taper between now and the end of the year, irrespective of delta,\" said Adam Posen, president of the Peterson Institute for International Economics.</p><p><blockquote>彼得森国际经济研究所所长亚当·波森表示：“我认为，无论达美航空如何，从现在到年底，它们都很可能会缩减规模。”</blockquote></p><p> The exact timing doesn't matter much \"unless you're a day trader,\" Posen added.</p><p><blockquote>波森补充说，确切的时间并不重要，“除非你是日内交易者”。</blockquote></p><p> Dallas Fed President Rob Kaplan, a strong advocate of slowing down asset purchases, said last week that he might rethink his push for a September announcement given the spread of the delta variant.</p><p><blockquote>大力提倡放缓资产购买的达拉斯联储主席Rob Kaplan上周表示，鉴于德尔塔变异毒株的蔓延，他可能会重新考虑推动9月份的公告。</blockquote></p><p> The Fed is buying $120 billion of Treasurys and mortgage-backed securities each month. The taper is not a tightening. The gradual slowing of purchases is expected to last for at least six months, meaning the Fed will still be accumulating bonds and maintaining an easy policy stance.</p><p><blockquote>美联储每月购买1200亿美元的美国国债和抵押贷款支持证券。锥度不是拧紧。购买的逐步放缓预计将持续至少六个月，这意味着美联储仍将积累债券并维持宽松的政策立场。</blockquote></p><p> The Fed's benchmark interest rate is near zero. It would have to raise this rate above 2.5% before policy was considered tight.</p><p><blockquote>美联储的基准利率接近于零。在政策被认为是紧缩之前，它必须将这一利率提高到2.5%以上。</blockquote></p><p> Many economists say that the high inflation rate seen this year means the Fed has to move more quickly, to at least a neutral policy stance.</p><p><blockquote>许多经济学家表示，今年的高通胀率意味着美联储必须更快地采取行动，至少采取中性政策立场。</blockquote></p><p> A new survey from the National Association for Business Economics found that, for the first time since the pandemic began, a majority of business economists believe the Fed is providing too much stimulus, a marked shift from last spring that reflects growing worries about high U.S. inflation.</p><p><blockquote>美国商业经济协会的一项新调查发现，自疫情爆发以来，大多数商业经济学家首次认为美联储提供了过多的刺激措施，这与去年春天相比发生了明显转变，反映出人们对美国高通胀的担忧日益加剧。</blockquote></p><p> Powell will speak at 10 a.m. Eastern on Friday. There will be a slew of Fed officials speaking on television ahead of the chairman's remarks.</p><p><blockquote>鲍威尔将于上午10点发表讲话。周五东部。在主席发表讲话之前，将有许多美联储官员在电视上发表讲话。</blockquote></p><p> Tim Duy, chief U.S. economist at SGH Macro Advisors, sees two broad camps at the Fed: most officials who want to start to taper this year, and a smaller group of \"several\" officials who want to delay into 2022.</p><p><blockquote>SGH Macro Advisors首席美国经济学家蒂姆·杜伊(Tim Duy)认为，美联储存在两大阵营：大多数官员希望今年开始缩减规模，以及一小部分“几名”官员希望推迟到2022年。</blockquote></p><p> Duy said he thinks that Powell and his inner circle are in the \"most\" camp.</p><p><blockquote>杜伊说，他认为鲍威尔和他的核心圈子属于“最”阵营。</blockquote></p><p> \"Powell can firm up the view that tapering will occur in 2021 simply by reiterating the main themes of the most recent minutes and position the [Fed] board as more hawkish than the position elaborated by the most dovish members,\" Duy said.</p><p><blockquote>杜伊表示：“鲍威尔只需重申最近会议纪要的主题，并将[美联储]董事会定位为比最鸽派成员阐述的立场更加鹰派，就可以坚定2021年将发生缩减购债规模的观点。”</blockquote></p><p> At this juncture, economists said Fed policy will depend on the economic data.</p><p><blockquote>在这个节骨眼上，经济学家表示美联储的政策将取决于经济数据。</blockquote></p><p> \"It is really no longer about the conceptual issues, it's about the actual economic issues,\" Posen said.</p><p><blockquote>波森说：“这真的不再是概念问题，而是实际的经济问题。”</blockquote></p><p> The Labor Department will release the August job report on Sept. 3. The economy has added an average of 831,000 jobs over the past three months. Another strong report could push forward the taper announcement into September.</p><p><blockquote>劳工部将于9月3日发布8月份就业报告。过去三个月，经济平均增加了831,000个就业岗位。另一份强劲的报告可能会将taper的宣布推迟到9月份。</blockquote></p><p> \"If it's a very strong report then it moves things up,\" Reinhart said.</p><p><blockquote>“如果这是一份非常强有力的报告，那么它就会推动事情的发展，”莱因哈特说。</blockquote></p><p> But a few economists, like Jan Hatzius of Goldman Sachs, think that the tapering announcement may be delayed past November.</p><p><blockquote>但高盛(Goldman Sachs)的Jan Hatzius等少数经济学家认为，缩减规模的宣布可能会推迟到11月之后。</blockquote></p><p> Stocks moved higher on Monday, with the S&P 500 index closing up 0.9%. The yield on the 10-year Treasury note slipped to 1.255%, well below the 1.75% level last seen in March.</p><p><blockquote>周一股市走高，标普500指数收盘上涨0.9%。10年期国债收益率下滑至1.255%，远低于3月份1.75%的水平。</blockquote></p><p></p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Powell unlikely to fire starting pistol for tapering at Jackson Hole<blockquote>鲍威尔不太可能因杰克逊霍尔的减缩而发射发令枪</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nPowell unlikely to fire starting pistol for tapering at Jackson Hole<blockquote>鲍威尔不太可能因杰克逊霍尔的减缩而发射发令枪</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-08-24 17:55</span>\n</p>\n</h4>\n</header>\n<article>\n<p>A November announcement seems more likely, but strong jobs report could alter equation</p><p><blockquote>11月份发布公告的可能性似乎更大，但强劲的就业报告可能会改变等式</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ccf044ab98780d1f80e4d5cae2c03f24\" tg-width=\"700\" tg-height=\"467\" width=\"100%\" height=\"auto\"><span>Fed Chairman Jerome Powell, left, and Mark Carney, former governor of the Bank of England, walk the grounds during the last in-person Jackson Hole economic symposium in 2019.</span></p><p><blockquote><p class=\"t-img-caption\"><span>美联储主席杰罗姆·鲍威尔（左）和英国央行前行长马克·卡尼在2019年最后一次杰克逊霍尔经济研讨会上走在会场。</span></p></blockquote></p><p> Federal Reserve Chairman Jerome Powell will be able to equivocate about when the central bank will start slowing down the pace of its bond-buying, essentially signaling a delay until November, economists said Monday.</p><p><blockquote>经济学家周一表示，美联储主席杰罗姆·鲍威尔将能够对央行何时开始放缓债券购买步伐含糊其辞，实质上是推迟到11月。</blockquote></p><p> The Fed chairman \"can do a 'on the <a href=\"https://laohu8.com/S/AONE.U\">one</a> hand and other the other hand,' leaving you with the sense he's not going to fire the starting pistol at the September meeting,\" said Vince Reinhart, chief economist at Mellon.</p><p><blockquote>美联储主席“可以对<a href=\"https://laohu8.com/S/AONE.U\">一</a>梅隆大学首席经济学家文斯·莱因哈特(Vince Reinhart)表示：“这让你感觉他不会在9月份的会议上打响发令枪。”</blockquote></p><p> Powell is expected to emphasize the risk management and repeat that the delta strain's impact remains unknown.</p><p><blockquote>鲍威尔预计将强调风险管理，并重申德尔塔毒株的影响仍然未知。</blockquote></p><p> Powell's messaging is helped by the fact that the Jackson Hole, Wyo., retreat was switched to a virtual single-day meeting on Friday instead of the traditional two-day event marked by Western-attire dinners, fishing and hiking, after a spike of recent COVID-19 cases in western Wyoming.</p><p><blockquote>在怀俄明州西部最近的新冠肺炎病例激增后，怀俄明州杰克逊霍尔的静修活动于周五改为虚拟的单日会议，而不是传统的为期两天的活动，以西式服装晚宴、钓鱼和徒步旅行为标志，这一事实有助于鲍威尔的信息。</blockquote></p><p> \"It's kind of hard for a central banker, who is meeting virtually with his colleagues because of a health risk, to assert that it's time to start slowing policy accommodation without acknowledging the health risk that can affect the economy,\" Reinhart said.</p><p><blockquote>莱因哈特表示：“对于一位因健康风险而与同事进行虚拟会面的央行行长来说，在不承认可能影响经济的健康风险的情况下，很难断言是时候开始放缓政策宽松了。”</blockquote></p><p> But Fed watchers think that the central bank will announce tapering, and launch it, before the year is out.</p><p><blockquote>但美联储观察人士认为，美联储将在年底前宣布并启动缩减规模。</blockquote></p><p> \"I view them as quite likely to taper between now and the end of the year, irrespective of delta,\" said Adam Posen, president of the Peterson Institute for International Economics.</p><p><blockquote>彼得森国际经济研究所所长亚当·波森表示：“我认为，无论达美航空如何，从现在到年底，它们都很可能会缩减规模。”</blockquote></p><p> The exact timing doesn't matter much \"unless you're a day trader,\" Posen added.</p><p><blockquote>波森补充说，确切的时间并不重要，“除非你是日内交易者”。</blockquote></p><p> Dallas Fed President Rob Kaplan, a strong advocate of slowing down asset purchases, said last week that he might rethink his push for a September announcement given the spread of the delta variant.</p><p><blockquote>大力提倡放缓资产购买的达拉斯联储主席Rob Kaplan上周表示，鉴于德尔塔变异毒株的蔓延，他可能会重新考虑推动9月份的公告。</blockquote></p><p> The Fed is buying $120 billion of Treasurys and mortgage-backed securities each month. The taper is not a tightening. The gradual slowing of purchases is expected to last for at least six months, meaning the Fed will still be accumulating bonds and maintaining an easy policy stance.</p><p><blockquote>美联储每月购买1200亿美元的美国国债和抵押贷款支持证券。锥度不是拧紧。购买的逐步放缓预计将持续至少六个月，这意味着美联储仍将积累债券并维持宽松的政策立场。</blockquote></p><p> The Fed's benchmark interest rate is near zero. It would have to raise this rate above 2.5% before policy was considered tight.</p><p><blockquote>美联储的基准利率接近于零。在政策被认为是紧缩之前，它必须将这一利率提高到2.5%以上。</blockquote></p><p> Many economists say that the high inflation rate seen this year means the Fed has to move more quickly, to at least a neutral policy stance.</p><p><blockquote>许多经济学家表示，今年的高通胀率意味着美联储必须更快地采取行动，至少采取中性政策立场。</blockquote></p><p> A new survey from the National Association for Business Economics found that, for the first time since the pandemic began, a majority of business economists believe the Fed is providing too much stimulus, a marked shift from last spring that reflects growing worries about high U.S. inflation.</p><p><blockquote>美国商业经济协会的一项新调查发现，自疫情爆发以来，大多数商业经济学家首次认为美联储提供了过多的刺激措施，这与去年春天相比发生了明显转变，反映出人们对美国高通胀的担忧日益加剧。</blockquote></p><p> Powell will speak at 10 a.m. Eastern on Friday. There will be a slew of Fed officials speaking on television ahead of the chairman's remarks.</p><p><blockquote>鲍威尔将于上午10点发表讲话。周五东部。在主席发表讲话之前，将有许多美联储官员在电视上发表讲话。</blockquote></p><p> Tim Duy, chief U.S. economist at SGH Macro Advisors, sees two broad camps at the Fed: most officials who want to start to taper this year, and a smaller group of \"several\" officials who want to delay into 2022.</p><p><blockquote>SGH Macro Advisors首席美国经济学家蒂姆·杜伊(Tim Duy)认为，美联储存在两大阵营：大多数官员希望今年开始缩减规模，以及一小部分“几名”官员希望推迟到2022年。</blockquote></p><p> Duy said he thinks that Powell and his inner circle are in the \"most\" camp.</p><p><blockquote>杜伊说，他认为鲍威尔和他的核心圈子属于“最”阵营。</blockquote></p><p> \"Powell can firm up the view that tapering will occur in 2021 simply by reiterating the main themes of the most recent minutes and position the [Fed] board as more hawkish than the position elaborated by the most dovish members,\" Duy said.</p><p><blockquote>杜伊表示：“鲍威尔只需重申最近会议纪要的主题，并将[美联储]董事会定位为比最鸽派成员阐述的立场更加鹰派，就可以坚定2021年将发生缩减购债规模的观点。”</blockquote></p><p> At this juncture, economists said Fed policy will depend on the economic data.</p><p><blockquote>在这个节骨眼上，经济学家表示美联储的政策将取决于经济数据。</blockquote></p><p> \"It is really no longer about the conceptual issues, it's about the actual economic issues,\" Posen said.</p><p><blockquote>波森说：“这真的不再是概念问题，而是实际的经济问题。”</blockquote></p><p> The Labor Department will release the August job report on Sept. 3. The economy has added an average of 831,000 jobs over the past three months. Another strong report could push forward the taper announcement into September.</p><p><blockquote>劳工部将于9月3日发布8月份就业报告。过去三个月，经济平均增加了831,000个就业岗位。另一份强劲的报告可能会将taper的宣布推迟到9月份。</blockquote></p><p> \"If it's a very strong report then it moves things up,\" Reinhart said.</p><p><blockquote>“如果这是一份非常强有力的报告，那么它就会推动事情的发展，”莱因哈特说。</blockquote></p><p> But a few economists, like Jan Hatzius of Goldman Sachs, think that the tapering announcement may be delayed past November.</p><p><blockquote>但高盛(Goldman Sachs)的Jan Hatzius等少数经济学家认为，缩减规模的宣布可能会推迟到11月之后。</blockquote></p><p> Stocks moved higher on Monday, with the S&P 500 index closing up 0.9%. The yield on the 10-year Treasury note slipped to 1.255%, well below the 1.75% level last seen in March.</p><p><blockquote>周一股市走高，标普500指数收盘上涨0.9%。10年期国债收益率下滑至1.255%，远低于3月份1.75%的水平。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/powell-unlikely-to-fire-starting-pistol-for-tapering-at-jackson-hole-11629752727?mod=home-page\">MarketWatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite",".DJI":"道琼斯"},"source_url":"https://www.marketwatch.com/story/powell-unlikely-to-fire-starting-pistol-for-tapering-at-jackson-hole-11629752727?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2161777691","content_text":"A November announcement seems more likely, but strong jobs report could alter equation\nFed Chairman Jerome Powell, left, and Mark Carney, former governor of the Bank of England, walk the grounds during the last in-person Jackson Hole economic symposium in 2019.\nFederal Reserve Chairman Jerome Powell will be able to equivocate about when the central bank will start slowing down the pace of its bond-buying, essentially signaling a delay until November, economists said Monday.\nThe Fed chairman \"can do a 'on the one hand and other the other hand,' leaving you with the sense he's not going to fire the starting pistol at the September meeting,\" said Vince Reinhart, chief economist at Mellon.\nPowell is expected to emphasize the risk management and repeat that the delta strain's impact remains unknown.\nPowell's messaging is helped by the fact that the Jackson Hole, Wyo., retreat was switched to a virtual single-day meeting on Friday instead of the traditional two-day event marked by Western-attire dinners, fishing and hiking, after a spike of recent COVID-19 cases in western Wyoming.\n\"It's kind of hard for a central banker, who is meeting virtually with his colleagues because of a health risk, to assert that it's time to start slowing policy accommodation without acknowledging the health risk that can affect the economy,\" Reinhart said.\nBut Fed watchers think that the central bank will announce tapering, and launch it, before the year is out.\n\"I view them as quite likely to taper between now and the end of the year, irrespective of delta,\" said Adam Posen, president of the Peterson Institute for International Economics.\nThe exact timing doesn't matter much \"unless you're a day trader,\" Posen added.\nDallas Fed President Rob Kaplan, a strong advocate of slowing down asset purchases, said last week that he might rethink his push for a September announcement given the spread of the delta variant.\nThe Fed is buying $120 billion of Treasurys and mortgage-backed securities each month. The taper is not a tightening. The gradual slowing of purchases is expected to last for at least six months, meaning the Fed will still be accumulating bonds and maintaining an easy policy stance.\nThe Fed's benchmark interest rate is near zero. It would have to raise this rate above 2.5% before policy was considered tight.\nMany economists say that the high inflation rate seen this year means the Fed has to move more quickly, to at least a neutral policy stance.\nA new survey from the National Association for Business Economics found that, for the first time since the pandemic began, a majority of business economists believe the Fed is providing too much stimulus, a marked shift from last spring that reflects growing worries about high U.S. inflation.\nPowell will speak at 10 a.m. Eastern on Friday. There will be a slew of Fed officials speaking on television ahead of the chairman's remarks.\nTim Duy, chief U.S. economist at SGH Macro Advisors, sees two broad camps at the Fed: most officials who want to start to taper this year, and a smaller group of \"several\" officials who want to delay into 2022.\nDuy said he thinks that Powell and his inner circle are in the \"most\" camp.\n\"Powell can firm up the view that tapering will occur in 2021 simply by reiterating the main themes of the most recent minutes and position the [Fed] board as more hawkish than the position elaborated by the most dovish members,\" Duy said.\nAt this juncture, economists said Fed policy will depend on the economic data.\n\"It is really no longer about the conceptual issues, it's about the actual economic issues,\" Posen said.\nThe Labor Department will release the August job report on Sept. 3. The economy has added an average of 831,000 jobs over the past three months. Another strong report could push forward the taper announcement into September.\n\"If it's a very strong report then it moves things up,\" Reinhart said.\nBut a few economists, like Jan Hatzius of Goldman Sachs, think that the tapering announcement may be delayed past November.\nStocks moved higher on Monday, with the S&P 500 index closing up 0.9%. The yield on the 10-year Treasury note slipped to 1.255%, well below the 1.75% level last seen in March.","news_type":1,"symbols_score_info":{".DJI":0.9,".IXIC":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":446,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":10,"xxTargetLangEnum":"ORIG"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/834621309"}
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