FOMC minutessays tapering "more likely to become appropriate early next year".
You know what that means? No tapering as far as the market can see. IF we wait till next year then surely we can't do anything before decision on Fed chair...because that's just not nice. After that, well, we have the mid-terms and surely we will not do anything until thereafter since we don't want to be seen to help either party...next thing you know, it's 2024 and the presidential election!
HA! It is what it is. All that just to hide from the fact that these "supply chain issues" and "other uncertainties" are not short term. To even think it is short term is simply idiotic. We are talking about a pandemic that saw the world locked down for more than a year...enough to permanently change behaviors and disrupt highly sensitive processes...delicate things usually takes longer to rebuild than to destroy. And they usually take coordinated precise fascal measures and a simple printing machine. I am betting on stagflation where gold will shine.
Just my humble opinion.