1.0Bernstein Bankhttps://bernstein-bank.com/en/Samuel Bauchhttps://bernstein-bank.com/en/author/samuelbauch/rich600338<blockquote class="wp-embedded-content" data-secret="lqmctLnWS5"><a href="https://bernstein-bank.com/en/tapering-signal-ahead/">Tapering signal ahead</a></blockquote><iframe sandbox="allow-scripts" security="restricted" src="https://bernstein-bank.com/en/tapering-signal-ahead/embed/#?secret=lqmctLnWS5" width="600" height="338" title="“Tapering signal ahead” — Bernstein Bank" data-secret="lqmctLnWS5" frameborder="0" marginwidth="0" marginheight="0" scrolling="no" class="wp-embedded-content"></iframe><script type="text/javascript"> /* <![CDATA[ */ /*! This file is auto-generated */ !function(d,l){"use strict";l.querySelector&&d.addEventListener&&"undefined"!=typeof URL&&(d.wp=d.wp||{},d.wp.receiveEmbedMessage||(d.wp.receiveEmbedMessage=function(e){var t=e.data;if((t||t.secret||t.message||t.value)&&!/[^a-zA-Z0-9]/.test(t.secret)){for(var s,r,n,a=l.querySelectorAll('iframe[data-secret="'+t.secret+'"]'),o=l.querySelectorAll('blockquote[data-secret="'+t.secret+'"]'),c=new RegExp("^https?:$","i"),i=0;i<o.length;i++)o[i].style.display="none";for(i=0;i<a.length;i++)s=a[i],e.source===s.contentWindow&&(s.removeAttribute("style"),"height"===t.message?(1e3<(r=parseInt(t.value,10))?r=1e3:~~r<200&&(r=200),s.height=r):"link"===t.message&&(r=new URL(s.getAttribute("src")),n=new URL(t.value),c.test(n.protocol))&&n.host===r.host&&l.activeElement===s&&(d.top.location.href=t.value))}},d.addEventListener("message",d.wp.receiveEmbedMessage,!1),l.addEventListener("DOMContentLoaded",function(){for(var e,t,s=l.querySelectorAll("iframe.wp-embedded-content"),r=0;r<s.length;r++)(t=(e=s[r]).getAttribute("data-secret"))||(t=Math.random().toString(36).substring(2,12),e.src+="#?secret="+t,e.setAttribute("data-secret",t)),e.contentWindow.postMessage({message:"ready",secret:t},"*")},!1)))}(window,document); /* ]]> */ </script> https://bernstein-bank.com/wp-content/uploads/2020/06/handel.jpg800455For the time being, the market is getting used to the prospect of tighter tapering: Jerome Powell has reaffirmed before the U.S. Senate the will to fight inflation. But he left himself a back door open to tightening monetary policy. As is so often the case, investors are poking around in the fog. The new inflation data should bring clarity, how strongly the Fed steps on the brakes.