On their regularly scheduled meeting Wednesday (7-26-17), Janet Yellen chief of Federal Open Market Committee (FOMC) and committee announced unsurprisingly, no rate increase. The committee also announced they would be shrinking the balance sheet soon.
Shrinking the balance sheet? huh…
Alan Greenspan (Former, former FOMC chair Yellen-Ben Bernanke- Alan Greenspan) made it clear if you understood what he said, he did not do his job … that language continues today!
Here is a preview graph of the FOMC “Balance Sheet”…
Next week we will explain what shrinking the balance sheet means… in English..hah
Ahhh…but that is next week … today is a Friday and we are still working remotely from afar … (Technology is treating us well!)
Enjoy your Friday and your weekend!
John A. Kvale CFA, CFP