Fed Begins Balance Sheet Unwind, Expects One More Rate Hike In 2017
Wednesday, September 20, 2017 at 07:11PM
Gold Prices

Today's the day.


On Nov 25, 2008 The Fed announced it would begin buying assets for its own account to save the world. In Oct 2014, The Fed ended its QE3 buying program but continued to reinvest the proceeds to maintain its $4.4 trillion balance sheet. Today, Janet Yellen announced the balance sheet will be allowed to normalize, with reinvestments slowed/stopped starting in October.

Headlines:

As expected, the Fed announced it will begin reducing bond reinvestments, starting by $10 billion per month and growing to $50 billion. This is what the Fed's tapering looks like in context:

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The possibilty of one rate hike is not going to kill this rally in gold prices...

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