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The Fed’s Balance Sheet: The 37th Annual Monetary and Trade Conference


  • Harker, Patrick T.

    (Federal Reserve Bank of Philadelphia)


Fed’s Harker on Unwinding: “Walk, Don’t Run”. A slow and steady approach to unwinding the Fed’s balance sheet is Philadelphia Fed President Patrick T. Harker’s preference. “So in metaphorical terms, it is a dark and stormy night, to quote Peanuts, and we are walking in the direction of a wall,” he told a conference audience. "In that situation, most of us would give the advice of ‘walk, don’t run.’”

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  • Harker, Patrick T., 2019. "The Fed’s Balance Sheet: The 37th Annual Monetary and Trade Conference," Speech 165, Federal Reserve Bank of Philadelphia.
  • Handle: RePEc:fip:fedpsp:165

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    monetary policy; GDP; outlook;

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