Powell speech: Economy is strong enough for bond taper even with Omicron

Fed Chair Jerome Powell said in his post-Fed meeting press conference that the US economy is strong enough for the Fed to press ahead with its bond taper plans even amid the spread of Omicron.

Additional Takeaways:

"A lot of uncertainty on Omicron."

"Effect of omicron on the economy will depend on its effect on demand and supply."

"People are learning to live with variants."

"As more people are vaccinated, the less the economic effect."

"Delta hurt global supply chains getting worked out."

"We'll know a whole lot more about omicron in a few weeks."

"Given the strength of demand in the economy, it's appropriate to move forward the taper. Omicron doesn't have much to do with that."

Dec 15, 2021

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