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Taper. the economy doesn't run too hot. they signaled as much earlier this month. >> but at this point the economy is very strong and inflationary pressures are high. it is therefore appropriate, in my view, to consider wrapping up the taper of our asset purchases, which we actually announced at the november meeting perhaps a few months sooner >> that means the fed will reduce bond buying faster than planned in march instead of june next year and the fed could raise interest rates next year. what the fed does, folks, has implications for everyone. markets are accustomed to easy money, sending ...

Thanks for having me. - about it? good morning and| thanks for having me. really it's in the hands of the federal reserve. the federal reserve has indicated that they intend to start fighting inflation as soon as possible, but that isn't right now. to do so they would raise interest rates, but they can't begin to do that until they taper, which means they end their bond buying programme, so that may not happen until next year, perhaps may orjune of 2022. so well a higher inflation rate justify a quicker turning off of the taps of cheap money, a taper if you will from the fed? we think so. ther...

>> all right, congressman, thank you so much. thank you for your time this evening. we appreciate it. >> thank you for having me. inflation continues to be a major concern on wall street these days. >> reporter: hi, jim. you're paying more for just about everything. this week we find out how quickly prices are rising. reports on consumer and producer inflation for november are due. in october consumer prices hit a 30-year high. the federal reserve is watching the numbers closely and may roll back its covid stimulus even faster than planned. >> the economy is very strong, and inflationary pre...

You know, we just had chairman powell in this past week. i urged him to have the fed cut back on the purchase of bonds, start the taper that. he said one of the things that surprised most economists, left and right, was that there would be a great -- much greater return to the work force this past september. school coming back on. the unemployment plus-ups going away. that didn't happen. i think there's a lot of people that have -- that are rethinking their life post covid. one of the reasons they're not coming back is i can tell you in my state, about half of the child care providers that wer...

Federal Reserve Bank of Cleveland President Loretta Mester told Bloomberg she is open to a faster timetable for dialing back the Fed’s asset purchases to make space for more interest rate hikes if needed to tame inflation, with central bank officials previously saying they wouldn't start raising rates until the bond buys are fully phased out.