Market Watch

After Fed chief's dovish taper talk, eyes on US and China data

Consensus forecast from Bloomberg shows analysts expect the US economy to have added 750,000 jobs this month.
Consensus forecast from Bloomberg shows analysts expect the US economy to have added 750,000 jobs this month.PHOTO: AFP

SINGAPORE - So the long awaited Federal Reserve Jackson Hole gathering has come and gone without causing major calamity to financial markets.

At the closely watched symposium last Friday, chairman Jerome Powell indicated that the Fed taper - the pullback on the massive bond-buying programmes unleashed last year - will come before the year end. But he said interest rate hikes are not imminent as there is still "much ground to cover" before the United States economy hits full employment.

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