US Fed chair Jerome Powell speaks during the virtual Jackson Hole economic symposium on August 27. Powell said the central bank could begin reducing its monthly bond purchases this year, though it won’t be in a hurry to begin raising interest rates thereafter. Photo: Bloomberg
US Fed chair Jerome Powell speaks during the virtual Jackson Hole economic symposium on August 27. Powell said the central bank could begin reducing its monthly bond purchases this year, though it won’t be in a hurry to begin raising interest rates thereafter. Photo: Bloomberg
Anthony Rowley
Opinion

Opinion

Macroscope by Anthony Rowley

Harsh reality is about to pop central banks’ bubble over painless tapering

  • Financial markets really seem to believe that monetary easing can go on forever without consequences. The beautiful bubble in which reality seems to be forever suspended will strike the craggy side of the equity and debt mountains it has created and pop

US Fed chair Jerome Powell speaks during the virtual Jackson Hole economic symposium on August 27. Powell said the central bank could begin reducing its monthly bond purchases this year, though it won’t be in a hurry to begin raising interest rates thereafter. Photo: Bloomberg
US Fed chair Jerome Powell speaks during the virtual Jackson Hole economic symposium on August 27. Powell said the central bank could begin reducing its monthly bond purchases this year, though it won’t be in a hurry to begin raising interest rates thereafter. Photo: Bloomberg
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