Who’s Buying Evergrande? - New York Times DealBook Newsletter
By Andrew Ross Sorkin, Jason Karaian, Sarah Kessler, Stephen Gandel, Lauren Hirsch, Ephrat Livni and Anna Schaverien
Sept. 23, 2021
As fears of the fallout from the Chinese property developer’s potential collapse fade, some investors see an opportunity.
For the Fed, is now the time?
The Federal Reserve said yesterday that it could soon slow the large-scale bond purchases that have propped up the economy during the pandemic. “It’s time for us to begin to taper them,” Jay Powell, the Fed chair, said. With that end in sight, DealBook asked some experts whether it was the right time to pull the plug on the extra support.
Robert Eisenbeis, a former top Fed staffer who is now the chief monetary strategist for Cumberland Advisors, is critical of the ambiguity around the Fed’s plan, which could stoke market volatility. Powell said that a specific timeline for tapering had not been set, and that at least one more month of solid job growth was necessary. “Powell has said the Fed has a ‘wonderful framework for communication,’” Eisenbeis said. “It’s garbage.”
Read the full story at NYT's website: https://www.nytimes.com/2021/09/23/business/dealbook/evergrande-debt-investors.html
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