Fed's Bostic says Start Of Fed Balance Sheet Drawdown Going Well - more
Headlines from the speech by President of the Federal Reserve Bank of Atlanta, Raphael Bostic are here: Fed's Bostic: Hurricanes won't knock US economy off track
The Wall Street Journal have a recap available (unless its gated, of course): Start Of Fed Balance Sheet Drawdown Going Well, Fed's Bostic Says
Main recap points from the Journal:
- Federal Reserve Bank of Atlanta President Raphael Bostic said Wednesday the start to central bank balance sheet reduction is going well, in part because the economy is in a good place to deal with the shift in monetary policy.
- "While much is uncertain about this unprecedented policy unwinding, there are good reasons to think that the effects of a gradual and predictable ramping down of the balance sheet will be smaller than the effects measured as the balance sheet expanded"
- "Although I don't expect financial market conditions to be significantly affected in the coming months by balance-sheet reductions themselves, I, along with my colleagues, will obviously be monitoring financial markets for any change in financial conditions that could affect the macroeconomy"