[New York = Edaily Correspondent Kim Jong-nam] Federal Reserve Chairman Jerome Powell said on the 16th that the plan to reduce the balance sheet would be announced at a later meeting.
“We will start reducing the size of the balance sheet at a future regular meeting,” Powell said at a press conference following the Feds two-day meeting of the Federal Open Market Committee. The balance sheet shrinking is a key tool for tightening along with the base rate hike.
Chairman Powell also said about the recent inflation pattern, “It will take longer than expected to get back to our price stabilization target,” he said.
Federal Reserve Chairman Jerome Powell speaks during a press conference following the March Federal Open Market Committees regular meeting held on the 15th and 16th of March.