On the recordMarch 19, 2012
The timing of the exit from the balance sheet and from the highly accommodative monetary policy generally is one of the most critical questions that we would face.
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congress.govThe timing of the exit from the balance sheet and from the highly accommodative monetary policy generally is one of the most critical questions that we would face.
Powell emphasizes the importance of timing in monetary policy exit strategies.
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Stopping sooner could have made some difference, but not likely enough to fundamentally alter the trajectory of the economy
If we move too slowly, there may be unnecessary losses, painful losses in the employment market.
without the ability to pay interest on reserves, the Fed would lose control over rates