Fed Governor Milan Supports Ending Quantitative Easing, Notes Possible Balance Sheet Reduction
During the October 28-29 meeting, Milan indicated the U.S. Federal Reserve may further reduce its balance sheet alongside terminating asset-purchase policies.
Fact Check
The statement is assessed as "likely_true" with high confidence because both of its key components are directly and explicitly supported by the provided high-authority sources. The first part of the statement, claiming Milan's support for ending quantitative easing, is corroborated by a source reporting on his speech, which mentions he "had hoped the Fed would immediately halt quantitative' easing." The second part of the statement, regarding the possibility of a balance sheet reduction, is confirmed by another source that directly quotes him on the possibility of resuming "balance sheet reduction." The evidence is consistent, comes from credible sources, and directly supports the full scope of the claim without any contradictions.
Summary
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Terms & Concepts
- Quantitative Easing: A central bank policy of purchasing financial assets to inject liquidity into the economy.
- Balance Sheet Reduction: A process where the central bank decreases its holdings of securities and other assets.
- Federal Reserve: The central banking system of the United States, responsible for monetary policy and regulating financial institutions.