Markets are expected to take the much-anticipated wind down of the Federal Reserve’s massive monetary stimulus in their stride, one analyst told CNBC on Thursday, even if the move is more aggressive than predicted.
Global financial markets have suffered wild swings since the U.S. central bank first said in late May it was considering slowing its $85 billion per month bond buying program.
But Mike Crofton, president and CEO of U.S. based investment firm Philadelphia Trust, told CNBC that if and when the Fed finally makes its move, it will not trigger the sharp correction that many have feared.
“I think it’s going to be a non-event. A minor taper is already priced in…the market’s not going to miss a beat,” said Crofton.