US Federal Reserve begins unwinding stimulus and leaves interest rates on hold – live!

All the day’s economic and financial news, including an eagerly awaited Federal Reserve policy meeting

Q: The Fed is locked into reducing its balance sheet, and raising interest rates in a gradual fashion. So what will you do if economic conditions don’t turn out as you expect?

Yellen denies that the Fed is ‘locked in’ to a particular path. We are assessing incoming data, and these plans are subject to change.

Yellen says that the Fed could “stop its balance sheet rolloff” in future, if adjusting interest rates is “insufficient” to respond to changes to the economic outlook.

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