The Federal Reserve is set to start shedding $95bn of assets a month from its swollen $9tn balance sheet as it steps up efforts to curb soaring inflation in the US.
An account of the Federal Open Market Committee’s last meeting in March showed officials finalising a plan to reduce the central bank’s presence in US government bond markets, a process that will begin as early as next month.
The Fed’s footprint in debt markets expanded significantly during the pandemic as it hoovered up trillions of dollars of Treasuries and agency mortgage-backed securities in an attempt to stave off an economic cataclysm.
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