Fed officials: Faster tapering may be needed

Federal Reserve officials discussed the potential need to speed up the tapering of asset purchases in response to rising job gains and inflation.

Clarida: Following webcast remarks to the San Francisco Fed, Vice Chair Richard Clarida reportedly said updated data may make it appropriate for officials to discuss a faster pace of cuts to purchases of Treasuries and mortgage-backed securities.

Waller: In a separate speech, Fed Governor Christopher Waller said the rapid improvement in the labor market and deteriorating inflation data have pushed him toward favoring a faster pace of tapering.

Current Rate: The Federal Open Market Committee voted earlier this month to cut the Fed’s monthly net asset purchases by $10 billion for Treasuries and $5 billion for agency MBS.