The Transom, Ben Domenech, April 6, 2017

http://vlt.tc/2slw  “Federal Reserve officials agreed at their March policy meeting they would likely begin shrinking a 4.5 trillion portfolio of Treasury and mortgage securities later this year, though they remained undecided on how quickly to reduce the holdings and to what level, according to minutes released Wednesday. The minutes of the March 14-15 gathering help answer a question hanging over markets in recent months. The Fed has been telegraphing interest-rate increases for years but has been guarded on how it will handle the sizable securities holdings it acquired through asset-purchase programs during and after the 2007-09 recession. Those programs aimed to hold down long-term interest rates and boost economic growth.” Inside the Fed’s March meeting: The annotated minutes. http://vlt.tc/2skn