Speaking at the Bard College Conference

  • Uncertainty around shedding bonds could spark market volatility

  • Shrinking balance sheet should be an autopilot process

  • There will likely be a trade off between shrinking the portfolio and rate hikes

  • Is worried about deliberately overshooting the inflation goal and overheating labour market

  • Backs reducing bond portfolio this year

The Fed is on watch from any volatility from reducing their balance sheet but it really should be a smooth process.