Economics
Powell Says Balance-Sheet Debate Underway, But This Time Is Different
- Economy in a different place than last time, Powell says
- Fed accelerates taper to end bond buying by mid-March
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Federal Reserve Chair Jerome Powell said officials have begun to debate when to start shrinking the central bank’s massive balance sheet, but their approach the last time they did this may not be the best way this time around.
Officials “haven’t made any decisions at all about when runoff would start,” Powell told a press conference Wednesday after the Federal Open Market Committee sped up its removal of policy support to end asset purchases in mid-March.