Fed to consider speeding up 'taper' -Powell

The Fed kicked off its taper earlier this month and announced a reduction schedule that would complete it around mid-year but is widely expected to revisit that timeline at its next meeting in two weeks.

The taper is the wind down of the massive bond purchases the Fed put in place during the height of the health crisis in order to prop up the economy and prevent a long-lasting recession.

Powell's comment came during testimony to the Senate Banking Committee.

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