The Fed Is About to Embark on the Great Unwinding

The Fed Is About to Embark on the Great Unwinding
AP Photo/Shizuo Kambayashi

After a historic buildup of its bond portfolio to support the collapsing U.S. economy following the financial crisis, the central bank plans to shrink its holdings. Financial markets are taking this prospect in stride so far, but this is uncharted territory.

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