Federal Reserve Finally Ends Quantitative Easing

 

Brady calls on FOMC to begin an orderly reduction of its balance sheet.

 

Washington, D.C. – Rep. Kevin Brady, Chairman of the Congressional Joint Economic Committee commented on today’s Federal Open Market Committee (FOMC) statement that it would end its program of purchasing long-term assets known as quantitative easing.

 

“I support the FOMC’s decision to end quantitative easing, Brady said.  “However,  the FOMC must begin to normalize interest rates and unwind the bloated size Fed’s balance sheet in an orderly and predictable way.”

 

“Delaying the normalization of monetary policy offers few benefits and poses significant risks to the American economy.  Closing the Growth Gap will require new pro-growth economic policies that a Congress under Republican leadership would provide,” Brady concluded.