Preparing for a Smooth (Eventual) Exit

Brian P Sack

Business Economics, 2010, vol. 45, issue 3, 158-163

Abstract: One aspect of the U.S. Federal Reserve's efforts to mitigate the financial crisis was the accumulation of unprecedented levels of assets. As financial and economic conditions become healthy and sustainable, the U.S. Federal Reserve will wind down these positions. Doing so without disruption poses serious challenges, but they are challenges that the U.S. Federal Reserve has considered carefully and that can be managed successfully. The approach features caution and transparency and must be coordinated with traditional monetary policy. This paper describes the potential effects of the U.S. Federal Reserve's exit activities and how it will control them.

Date: 2010
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