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Charles Evans, President and CEO, Federal Reserve Bank of Chicago, takes part in a panel discussion titled "Twist and Shout: The Limits of U.S. Monetary Policy" at the Milken Institute Global Conference in Beverly Hills, California in this file photo from May 1, 2012. The U.S. Federal Reserve will probably reduce its massive bond-buying stimulus program later this year, and depending on the economic data could do so as early as next month, Evans -- who is typically among the most dovish policymakers -- said August 6, 2013.
Charles Evans, President and CEO, Federal Reserve Bank of Chicago, takes part in a panel discussion titled "Twist and Shout: The Limits of U.S. Monetary Policy" at the Milken Institute Global Conference in Beverly Hills, California in this file photo from May 1, 2012. The U.S. Federal Reserve will probably reduce its massive bond-buying stimulus program later this year, and depending on the economic data could do so as early as next month, Evans -- who is typically among the most dovish policymakers -- said August 6, 2013.
(Danny Moloshok/Reuters)

SCOTT BARLOW

For markets, Fed tapering is already here

ROB Insight is a premium commentary product offering rapid analysis of business and economic news, corporate strategy and policy, published throughout the business day. Visit the ROB Insight homepage for analysis available only to subscribers.

One of the most dovish members of the U.S. Federal Reserve’s Open Market Committee hinted that the dreaded tapering of Fed monetary stimulus could be imminent. Thankfully, there are signs the much of the potential market damage is already reflected in asset prices.