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Analysts at Goldman Sachs offer their take on when to expect the FOMC to move towards normalizing monetary policy.  

Key quotes

“We expect tapering to begin in 1Q22.”

“Under assumptions that tapering at $15bn per meeting place will take all of 2022 and that FOMC will then want to take a break before considering rate hikes.”

“Lift-off would not be on the table for another two years.”

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