FED´s Kaplan interview with WSJ Officials need "start thinking about how we want to begin to taper or communicate the composition and the size of our asset purchases." Broader changes and altering those purchases right now not needed Changing composition of QE "not something at the moment that I'd be inclined to do" now but it's a tool at our disposal depending on conditions
The FOMC balance sheet is only going one way, up up up and away. Who in there right mind thinks they are going to reduce there 7 trillion of free money.
Probably you would appreciate being reminded of something Abba Lerner wrote in 1943. : The central idea is that government fiscal policy, its spending and taxing, its borrowing and repayment of loans, its issue of new money, and its withdrawal of money, shall all be undertaken with an eye only to the results of these actions on the economy and not to any established traditional doctrine about what is sound or unsound. --Lerner, Abba P., pg. 39 in Social Research, Vol 10, pgs. 38-51 (1943).