Barclays has postponed the expected time for the Federal Reserve to end quantitative tightening until September

Barclays currently predicts that the Federal Reserve's quantitative tightening will end in September, not March, because last month's meeting minutes did not mention tapering. Barclays strategist Joseph Abate wrote in a report that the Fed's decision to stop tapering may depend more on the ratio of reserves to bank assets than on a specific date. Barclays assumes that the Fed wants to reduce the reserve-to-asset ratio to about 12%, and without a debt ceiling, it could reach this threshold by August 2025.