Yellen Promises To Continue ‘Stimulus’ for Indefinite Future [Full Press Conference]
‘But the labor market has yet to fully recover; there are still too many people who want jobs but cannot find them, too many who are working part-time but would prefer full-time work’
Janet Yellen: Fed balance sheet to take years to shrink (Economic Times)
WASHINGTON: Federal Reserve Chair Janet Yellen says "it could take until the end of the decade" to shrink the Fed's record investment portfolio to more normal levels.
The Fed's response to the 2008 financial crisis has swollen its balance sheet to more than $4.4 trillion from less than $1 trillion roughly six years ago. Fed officials responded to the downturn in the economy with three rounds of bond purchases to try to hold down long-term borrowing rates to spur spending.
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