The November jobs report is out, and the above-consensus numbers have some predicting that the Federal Reserve will announce the first tapering of its quantitative easing program at the December FOMC meeting in two weeks.
Goldman Sachs chief economist Jan Hatzius is not one of them. Despite the solid jobs numbers, he’s sticking to his March taper call, reports Bloomberg.
He does note, however, that the unemployment rate, at 7.0%, is now at a level which Fed chairman Ben Bernanke flagged earlier as where the Fed would likely begin slowing its bond buying, which will necessarily add further fuel to the argument that the FOMC should taper “sooner rather than later.”
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