The Federal Reserve risks dragging down the US’s recovery by increasing interest rates while cutting back its own multi-trillion dollar balance sheet, a top Fed official has warned.
James Bullard, the St Louis Fed president and one of a handful of doves in the Fed system, said lifting rates four times in 2018 could drive down inflation — especially when the central bank’s programme of reducing its asset holdings is becoming “more and more forceful”.
The central bank began gradually unwinding its $4.5tn balance sheet in October last year.
您已閱讀44%（542字），剩余56%（702字）包含更多重要信息，訂閱以繼續探索完整內容，并享受更多專屬服務。