Fed’s Mary Daly says tapering of bond purchases may start this year


San Francisco Federal Reserve Bank President Mary Daly poses at the bank’s headquarters in San Francisco, California, U.S., July 16, 2019.

Ann Saphir | Reuters

San Francisco Federal Reserve President Mary Daly told CNBC on Tuesday that a strong economic recovery will allow the central bank to slow its asset purchases, possibly near the end of 2021.

Markets have been looking for clearer guidance from the Fed on when it will begin to reduce, or taper, the minimum $120 billion it is buying in Treasurys and mortgage-backed securities.

While Daly did not give an exact timeline, she said the time for tapering is drawing near.

“It is appropriate to start talking about tapering asset purchases,…


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