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CHICAGO, May 8 (Reuters) - A well-explained and slow withdrawal of the Federal Reserve from the bond market would not harm the U.S. economy, Cleveland Fed President Loretta Mester said on Monday.
She called for a "gradual, predictable" approach to beginning to shed some of the Fed's $4.5 trillion in Treasury and mortgage assets. "It's a natural time for us to shrink the balance sheet," Mester added at a Chicago conference. (Reporting by Mark Weinraub; Writing by Jonathan Spicer)