Quarles Supports Faster Taper of Fed Bond Buying

The transcript discusses the speaker's support for a committee decision to adjust the tapering of mortgage-backed and treasury purchases. The speaker expresses a preference for faster tapering of mortgage-backed purchases but acknowledges the committee's consensus. The discussion shifts to interest rate predictions for 2022, emphasizing reliance on data. The speaker is skeptical about inflation decreasing soon but is comfortable with moderate inflation levels. If inflation remains high, the Fed may need to use other tools.

What was the speaker's stance on the committee's decision regarding the end of the paper?

• They were indifferent to the decision.

• They opposed the decision.

• They wanted to delay it further.

• They supported moving it forward.

How did the speaker feel about the tapering of mortgage-backed purchases compared to treasury purchases?

• They preferred a slower tapering of mortgage-backed purchases.

• They preferred faster tapering of mortgage-backed purchases.

• They wanted both to be tapered at the same rate.

• They had no opinion on the matter.

What is the speaker's view on predicting interest rate increases?

• They believe in making predictions based on current trends.

• They think predictions should be avoided and decisions should be data-driven.

• They support predicting interest rate increases.

• They think predictions should be made annually.

What is the speaker's comfort level with inflation rates?

• They want inflation to be exactly 2%.

• They are comfortable with inflation between 2.2% and 2.5%.

• They prefer inflation to be below 1%.

• They are comfortable with inflation above 5%.

What action does the speaker suggest if inflation remains above 4% by next spring?

• Consider using other tools to address inflation.

• Increase interest rates immediately.

• Continue with the current policy.

• Ignore the inflation levels.