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The possibility of higher rates and a smaller balance sheet presages a rocky year for markets.
Markets on edge as US central bank looks to trim bond holdings that have ballooned in past two years
In misjudging the risk of rising prices, the Fed gave markets a profitable 2021 but more difficult year ahead
In an almost simultaneous change of heart, policymakers are moving to raise rates and ditch crisis support
US central bank crystallises stimulus withdrawal plans as prices rise and job market recovers
Central bankers ought to wonder why they succumbed to a fantasy about the Great Depression
Vice-chair’s remarks suggest US central bank could act more quickly to tame soaring inflation
Equities still in a sweet spot but hangover from monetary excesses still looms
Central bank plans ‘taper’ of bond purchases as US economy contends with surging inflation
Central banks have rattled bond markets, but fears of a radical new regime are overdone
John Williams urges ‘patient’ approach to tightening policy further by raising rates
How the Fed surprised no one
Upbeat reading on strength of US consumer comes ahead of next week’s Federal Reserve meeting
Fed chair avoids market tantrums while taking a step to withdrawing monetary stimulus
Central bank chief declares ‘clear progress’ on US labour market in speech at Jackson Hole
The longer the Fed chair waits to detail his own thinking, the greater the economic, financial and institutional risks
Unconventional monetary policy is creating ever greater vulnerabilities
Boston’s Eric Rosengren calls for speedy taper, arguing stimulus does not address supply shortages
Lower supplies of new Treasuries expected to counter effects of cutting back on central bank support
Debate over when to start ‘tapering’ $120bn of asset purchases will intensify this week
Few expect rerun of 2013 emerging-market shock but Fed shift and China slowdown pose risks
Two strategies for the too much money problem
San Francisco’s Mary Daly fears ‘premature’ declaration of victory against Covid-19
Tapering of asset purchases may start earlier than expected given stronger economy, minutes show
Currencies are not memes that only have value because governments say they do
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