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Good morning. Fed’s plan to prune its massive bond holdings, new sanctions on Russia, U.K. energy strategy and Berkshire Hathaway buys HP stake. Here’s what people are talking about.
Federal Reserve officials laid out a long-awaited plan to shrink their balance sheet by more than $1 trillion a year while raising interest rates “expeditiously” to counter the hottest inflation in four decades. The central bank said it will reduce its massive bond holdings at a maximum pace of $95 billion a month. Minutes of their March meeting, when officials raised rates by a quarter point, showed they debated going bigger but chose caution in light of the uncertainty caused by Russia’s invasion of Ukraine.