7/7/2021 10:52:46 PM GMT Fed officials discuss tapering asset purchases but without timing. “Substantial further progress” not yet evident for the whole FOMC. Recent market trends continue, S&P sets record, Treasury yields fall, dollar gains. The Federal Reserve taper discussion is out in the open, but unlike its mention in the April FOMC minutes, which sparked considerable volatility, markets took almost no notice of the commentary. Minutes of the Federal Open Market Committee (FOMC) meeting on June 15-16 offered no new information on timing or the economic conditions for reducing the amount of bond purchases, running at $120 billion a month since last March.