The Fed's monthly purchases of government-backed bonds to prop up the economy "still have a use, but it’s time for us to begin to taper them."
The move follows the disclosure that Dallas Fed President Robert Kaplan made multiple trades worth $1 million or more last year in individual stocks.
A group including Rep. Alexandria Ocasio-Cortez says the Fed needs to be focused on "eliminating climate risk and advancing racial and economic justice."
The Fed chair confirmed officials are moving toward winding down the monthly bond-buying program but was not specific about timing.
Based on the latest stress test results, Goldman Sachs is required to have the largest buffer against losses, followed by Morgan Stanley.
The easing reflected "a more favorable or less uncertain economic outlook" and heightened competition.
"Uncertainty remains high" and "central banks may need to take preemptive action," the Fund warns in its latest World Economic Outlook.
The bond market is currently pricing in a 56.8% chance of a rate hike by December 2022.
More than a third of firms expect worker shortages will reduce revenue potential this year, according to The CFO Survey.
Total production rose 0.4% in June but factory output dipped 0.1% amid supply chain constraints, particularly in the auto sector.
"June’s big inflation number will ramp up scrutiny of price-related data as policymakers assess whether the economy is at greater risk of overheating."
It is still "appropriate to maintain" near-zero interest rates even though inflation "has increased notably this spring."
