Panel on Shrinking the Federal Reserve Balance Sheet

Arvind Krishnamurthy, Sydney C. Ludvigson, Jonathan H. Wright

    Research output: Contribution to journalArticlepeer-review


    I review lessons from the research on central bank actions over the last decade and draw out implications for expanding the Federal Reserve balance sheet (quantitative easing) and shrinking the balance sheet (quantitative tightening). As I outline, there is already enough evidence in the research to indicate the manner in which the Federal Reserve could update its policy normalization principles and plans.

    Original languageEnglish (US)
    Pages (from-to)231-280
    Number of pages50
    JournalBrookings Papers on Economic Activity
    StatePublished - Sep 1 2022

    ASJC Scopus subject areas

    • General Business, Management and Accounting
    • Economics and Econometrics


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