Industry reaction: US Federal Reserve's tapering decision 'non event'

The US Federal Reserve’s decision to taper is a “non-event”, according to industry experts, who said the move came as no surprise to markets.

The Fed announced on Wednesday (3 November) its plans to start scaling back its $120bn monthly bond buying programme, which has played a crucial role in buoying the US economy as it contends with the ongoing pandemic and rising inflation. Paul Craig, portfolio manager at Quilter Investors, said: "This is exactly what the market was expecting, and is exactly what has been delivered. Powell has been preparing the market well for a tapering this year, and there is no change today. Fed 'steps carefully' as it announces wind-up of $120bn monthly bond buying programme "Going too hard too...