Fed officials grapple over timeline for tapering asset purchases

Dallas Fed President Robert Kaplan, (pic) in an interview with CNBC, said the U.S. central bank should announce its timeline for beginning to reduce its massive bond purchases next month and start tapering them in October.

The U.S. economy is growing at a robust pace and the labor market is rebounding, signaling it is nearly time for the Federal Reserve to start withdrawing its support, several U.S. central bank officials said on Wednesday.

Policymakers are in the process of discussing how and when they should begin to trim the massive asset purchases launched by the Fed last year to stabilize financial markets and support the economy through the coronavirus pandemic, and there are a range of views.