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MNI BRIEF: Powell Sees GDP As Benchmark For Fed Balance Sheet

Federal Reserve Chair Jerome Powell said Monday the Fed will likely shrink its USD8.9 trillion balance sheet over the next three years to a size that is similar in proportion to GDP as that which existed before the pandemic.

“That process should take around three years. We won't get numerically to the same level we’ll get roughly to the same level of GDP I think,” he said.

MNI Washington Bureau | +1 202 371 2121 | pedro.dacosta@marketnews.com
MNI Washington Bureau | +1 202 371 2121 | pedro.dacosta@marketnews.com

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