Peter Cardillo decodes Fed Chair Powell’s speech, says tapering is positive for the market

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Peter Cardillo decodes Fed Chair Powell’s speech, says tapering is positive for the market

In an exclusive conversation with ET Now, Peter Cardillo, Chief Market Economist, Spartan Capital Securities LLC discusses the current inflation rate and why is it a cause of concern. Jerome Powell stated that tapering can be expected towards the end of the year. Fed Chair Jerome Powell also mentioned how current inflation is a concern but it is likely to be temporary. Peter Cardillo states that what is certain is that the tapering is about to happen in the fourth quarter of this year. He further adds that tapering is going to be very positive for the markets. Watch the interview.