Fed tapering this year would be ‘very serious mistake’: Expert
Andersen Capital Management CIO Peter Andersen argues it’s too early for the Fed to roll back buying bonds.
Andersen Management Capital CIO Peter Andersen said he doesn't believe the Federal Reserve will taper bond purchases this year on FOX Business' "Mornings with Maria" Thursday. Andersen argued the move would be a "very serious mistake" amid the coronavirus pandemic and ongoing conflict in Afghanistan.
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PETER ANDERSEN: In the face of the global uncertainty, the global pandemic, I would be very, very surprised if they actually did taper. I just don't think that's in the cards.
There's so much COVID confusion and with the different variants and the masking confusion, all of the situation, how could the Fed actually make any logic out of this? I mean, the Fed is no brighter, pardon me, than most analysts and the rest of us out here. So they don't have any additional information and they're struggling with the same things that we are as investors.
STOCK FUTURES, GLOBAL SHARES, OIL FALL ON FED SUPPORT CONCERNS
So for them to strongly hint that they will make any action at this point, I do think is very, very premature. I mean, I would love to say that it is time to do this, but given our current situation, I just think it would be a very, very serious mistake to do that.
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Fed tapering ‘not in the cards’ due to pandemic, Afghanistan: Expert
Andersen Capital Management CIO Peter Andersen says ongoing crises will prevent the Fed from tapering this year.
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