FOMC Minutes: More details on Balance Sheet Reduction

From the Fed: Minutes of the Federal Open Market Committee, May 2-3, 2017 . Excerpts: Participants continued their discussion of issues related to potential changes to the Committee's policy of reinvesting principal payments from securities held in the SOMA. The staff provided a briefing that summarized a possible operational approach to reducing the System's securities holdings in a gradual and predictable manner. Under the proposed approach, the Committee would announce a set of gradually increasing caps, or limits, on the dollar amounts of Treasury and agency securities that would be......(read more)

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