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Fiscal Implications of the Federal Reserve’s Balance Sheet Normalization

Michele Cavallo, Marco Del Negro (), W Frame (), Jamie Grasing, Benjamin Malin () and Carlo Rosa

No 20180109, Liberty Street Economics from Federal Reserve Bank of New York

Abstract: In the wake of the global financial crisis, the Federal Reserve dramatically increased the size of its balance sheet?from about $900 billion at the end of 2007 to about $4.5 trillion today. At its September 2017 meeting, the Federal Open Market Committee (FOMC) announced that?effective October 2017?it would initiate the balance sheet normalization program described in the June 2017 addendum to the FOMC?s Policy Normalization Principles and Plans.

Keywords: Central bank's balance sheet; remittances; monetary policy (search for similar items in EconPapers)
JEL-codes: E5 (search for similar items in EconPapers)
Date: 2018-01-09
New Economics Papers: this item is included in nep-acc, nep-mac and nep-mon
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Related works:
Journal Article: Fiscal Implications of the Federal Reserve's Balance Sheet Normalization (2019) Downloads
Working Paper: Fiscal Implications of the Federal Reserve's Balance Sheet Normalization (2018) Downloads
Working Paper: Fiscal Implications of the Federal Reserve's Balance Sheet Normalization (2018) Downloads
Working Paper: Fiscal Implications of the Federal Reserve’s Balance Sheet Normalization (2018) Downloads
Working Paper: Fiscal Implications of the Federal Reserve’s Balance Sheet Normalization (2018) Downloads
Working Paper: Fiscal Implications of the Federal Reserve's Balance Sheet Normalization (2018) Downloads
Working Paper: Fiscal implications of the Federal Reserve's balance sheet normalization (2018) Downloads
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