Moving with remarkable speed, especially for a central bank, the Federal Reserve is expected this week to announce “how and when” it will stop shedding assets from its balance sheet. The Powell Fed is moving fast because it “recognizes that it was behind the curve on ending the balance sheet runoff,” said former Fed governor Larry Meyer, in a note to clients. “The market has high expectations for specific details on when and how the Fed will end runoff. Falling short of those expectations—for example by merely reiterating that it is discussing runoff plans and the timing has not been finalized—would be a big ... (full story)