The Federal Reserve on Wednesday announced details of its biggest post-recession policy shift since it first raised interest rates at the end of 2015.
The central bank confirmed, as expected, that it start trimming the $4.5 trillion balance sheet it built up after the recession in October. No members of the Federal Open Markets Committee that decides on policy disagreed with this move.
The Fed bought that much, in Treasurys and mortgage-backed securities, as part of its so-called quantitative easing process to push down borrowing costs.
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