Switching to autopilot: The Fed prepares for its balance-sheet—and its board—to shrink

Posted: September 15, 2017 in economy
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The Fed prepares for its balance-sheet—and its board—to shrink

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Switching to autopilot

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The Federal Reserve

UK Only Article: 
standard article

Issue: 

Closing in on cancer

Fly Title: 

Switching to autopilot

Location: 

WASHINGTON, DC

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20170916_FNP003_0.jpg

NINE years ago, in the autumn of 2008, the Federal Reserve was fighting a financial collapse. To stave off disaster, it lent aggressively—to banks, to money-market funds, even to other central banks. As a result, its balance-sheet ballooned. At the start of September 2008, the month when Lehman Brothers collapsed, the Fed’s assets totalled $905bn (at the time, about 6% of GDP). By December they had more than doubled in size, to $2.1trn. That was only the start. As its …

via Economic Crisis http://ift.tt/2fmScXy

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