Don’t underestimate the Fed’s balance sheet unwind – Fischer

Stanley Fischer offers advice to colleagues in final scheduled speech before leaving in October


People should not underestimate the significance of unwinding of the US Federal Reserve Board’s balance sheet, the vice-chairman of the US central bank said on September 28.

“I think it is very important that if we said these be temporary measures, that they be temporary measures. And that is the step that is under way at present,” said Stanley Fischer.

In his last scheduled speech before leaving his post in October, Fischer reiterated that the Federal Reserve, “barring large adverse shocks

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