Powell: 'Not yet' time to talk about tapering

The Federal Reserve on Wednesday projected a rapid jump in U.S. economic growth and inflation this year as the COVID-19 crisis winds down, and repeated its pledge to keep its target interest rate near zero for years to come.

The U.S. central bank now sees the economy growing 6.5% this year, and the unemployment rate falling to 4.5% by year's end, compared to growth of 4.2% and unemployment of 5% projected at its December policy meeting.

Asked whether it was yet time to start talking about tapering, Powell said "not yet."