According to the analysts at JP Morgan, “the Fed statements reference to 'meetings' (plural) would seem to further reduce the chances of a September taper announcement.”
Key quotes
“In 2013. the FOMC statements didn't begin to acknowledge progress toward their labor market goals until September, two meetings before the December taper announcement That template would seem to suggest that tapering could be announced at the November meeting.“
“We continue to expect a December announcement, though we see a risk it could occur in November instead.”
“The developments from the meeting and presser may have been a little more hawkish on tapering, the overall message about the path of rates remains quite dovish.”
