HILSENRATH: Fed Likely On Track to Reduce Bond Buying Later This Year

Markets have been watching closely for signs of the Fed taper.

The taper has been the new buzz word in the financial community and refers to the Fed slowing down its $85 billion asset purchase program that is intended to lower long-term interest rates.

Now, Jon Hilsenrath, whom Stephen Roach joked was the real Fed chairman, writes that Fed officials "are likely to signal" they're on track to pull back in their June meeting.

Hilsenrath writes that this comes after today's jobs report came in "good-but-not-great". From Hilsenrath:

"Federal Reserve officials are likely to signal at their June policy meeting that they're on track to begin pulling back their $85-billion-a-month bond-buying program later this year, as long as the economy doesn't disappoint.

"A good-but-not-great jobs report Friday ensured officials wouldn't want to act right away and would instead want to see more data before taking a delicate step toward winding down the program.

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