Fed officials ‘broadly agreed’ to cut balance sheet by $95bn

Fed officials ‘broadly agreed’ to cut balance sheet by bn

No final decision was made, according to the minutes, but officials made “substantial progress” and could “begin the balance sheet reduction process as soon as after the conclusion” of the next Fed meeting in May.

Several members were also in favor of raising the Fed’s reference interest rate by half a percentage point in the coming months, the document points out.

With information from Reuters and AFP.