The US Fed and Bank of England are planning to reverse their asset pile-ups that came with crisis-time quantitative easing. They must not go overboard. That policy has its critics, but it did serve a useful purpose—and disorderly reversals could be dangerous.
#Richworld #central #banks #shrink #bond #holdings #cautiously
Rich-world central banks need to shrink their bond holdings, sure, but they must do it cautiously
