Fed to announce plan to end balance sheet rundown ‘fairly soon’ — Powell


Jay Powell has said the Federal Reserve is close to agreeing a plan to complete the process of reducing its multi-trillion balance sheet.

Speaking to the House Financial Services Committee, Mr Powell said “my guess is we’ll be announcing something fairly soon.”

His words will heighten market focus on the Fed’s upcoming March 19-20 policy meeting.

On broader monetary policy, Mr Powell reiterated his basic message given at a Senate Banking Committee hearing on Tuesday, saying the Fed will be patient and watch how the economy evolves before moving rates.



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