Andreas Fuster, Brian Greene, and Brett Rose In its September 20, 2017, statement, the Federal Open Market Committee (FOMC) said that, beginning in October 2017, it would initiate the balance sheet normalization program described in the June 2017 addendum to the Committee’s Policy Normalization Principles and Plans. Specifically, to reduce the Federal Reserve’s securities holdings, … Continue reading Balance Sheet Normalization: When Will Agency MBS Holdings Decline?