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Fed expected to start reducing balance sheet next year, survey says
Fed expected to start reducing balance sheet next year, survey says

Federal Reserve officials are expected to start slowly reducing the central bank's $4.2 trillion in assets next year after the end of a key stimulus program that has helped dramatically increase the size of its balance sheet, according to survey results released Monday. Respondents in April's CNBC Fed Survey also anticipate slightly higher short-term interest rates at the end of next year than they did last month, though they still expect the first rate hike to come in July 2015. The survey also found new Fed Chair Janet L. Yellen scoring slightly lower than her predecessor, Ben S. Bernanke at this early point in her tenure. Respondents gave Yellen an overall grade of...

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