Fed’s Rosengren: Fed could start shrinking balance sheet ‘relatively soon’

Rosengren speaks at an Economics Institute
– Backs shrinking balance sheet ‘earlier’ and very gradually
– Favours running off bonds relatively soon with little effect on rate hikes
So the Fed isn’t even considering letting expiring bonds fall out of the balance sheet. They will reinvest most of the proceeds and only let a ‘small percentage’ run off.