Powell: A “Couple of Years” Before Fed Nears End of Balance Sheet Decline

Federal Reserve Chairman Jerome Powell said Tuesday the U.S. central bank has some distance left to run in terms of shrinking its balance sheet. When it comes to setting a stopping point for shedding bonds from the central bank’s holdings, “we haven’t put a specific target on it,” Powell said at an appearance before the Economic Club of Washington. “It will be a couple of years”…