Will I get travelling expenses? Zetia Cheap But that said, the rise in long-term rates will surely only serve to delay, at the margin, any tapering by the Fed. Monetary conditions are already significantly tighter now than they were a month ago; the last thing the Fed needs to do, with unemployment still well above target at 7.6%, is try to make them tighter still by tapering. The doves on the FOMC will of course want to keep the current accommodative stance unchanged, while the hawks will for the time being be placated with the idea that the bond market is doing their job for them.