Fed plans October start for 'gigantic' balance sheet reduction
Yellen hopes unwinding will be like 'watching paint dry'
Fed chair Janet Yellen
The Federal Reserve is to start paring back its multi-trillion dollar balance sheet next month, in an historic move that will see the unwinding of the quantitative easing programme launched amid the 2008 global financial crisis.
As expected the Federal Open Market Committee (FOMC) kept rates on hold at a range of 1% to 1.25%, but also announced it will begin the unwinding of the stimulus programme it began close to a decade ago...
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