Federal Reserve Chairman Jerome Powell said Tuesday that the central bank could step up its efforts to stimulate the economy.
Speaking before a Senate committee, he said a reduction in the pace of monthly bond purchases could come faster than the previously planned schedule suggests.
“The details of this issue will be discussed at the December meeting,” the Fed chief added.
“At the moment, the US economy is quite strong, but inflationary pressures are putting too much pressure on it. In my opinion, it is appropriate to consider the possibility of winding down the asset buyback program. Perhaps it should be done a few months earlier. I hope we will discuss this at the upcoming meeting,” – CNBC quotes Powell.
U.S. stock indices accelerated the fall after the statement of the head of the Fed. Indexes Dow Jones, S & P 500 and Nasdaq are losing more than 1 percent. Among major stocks, only Apple (AAPL) is on the plus side, with its shares up 1.6 percent.
