The Federal Reserve confronts a possibility it never expected: No exit

September 19, 2016 11:04 AM

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The Federal Reserve confronts a possibility it never expected: No exit

Two years ago, top officials at the Federal Reserve mapped out a strategy for withdrawing the central bank’s unprecedented support for the American economy.

The official communiqué was titled “Policy Normalization Principles and Plans,” and it was supposed to serve as a rough outline for the tenure of newly installed Fed Chair Janet L. Yellen. Essentially, it consisted of two basic parts: Raise interest rates and shrink the central bank’s massive balanc...

Also read: The Fed, a Decade After the Crisis, Is About to Embark on the Great Unwinding

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