The BofA team expects the Fed’s policy rate to hit 3.25% to 3.5% by May 2023, from its current range of 0.75% to 1%.
The Federal Reserve’s plan outlined on Wednesday to shrink its nearly $9 trillion balance sheet will result in a nearly $3 trillion reduction in its record size over the next three years, according to a tally by BofA Global strategists.
See: Fed lifts interest rates and to wind down $9 trillion bond stockpile in double-pronged attack on high U.S. inflation The BofA team broke out how that pace would reduce its holdings of Treasury bills, coupons and mortgages bonds each year, through 2024.
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