Philadelphia Fed President Patrick Harker says it will soon be time to taper bond and mortgage-backed security purchases. He noted, “I am in the camp that believes it will soon be time to begin slowly and methodically—frankly, boringly—tapering our $120 billion in monthly purchases…” Harker expects the U.S. economy to grow 6.5% in 2021 and 3.5% in 2022, effectively moderating itself. At the same time, he expects inflation to be around 4% in 2021 but drop to 2% in 2022.