FOMC Statement - Changes

Found in a CNBC article:

This is a comparison of Wednesday’s Federal Open Market Committee statement with the one issued after the Fed’s previous policymaking meeting in March.

Text removed from the March statement is in red with a horizontal line through the middle.

Text appearing for the first time in the new statement is in red and underlined.

Black text appears in both statements.


Cutting QT from $95B/mo to $60B/mo is effectively a kind of rate cut.

At the $60B rate, it’ll take the Fed over 10 years to clear their balance sheet! And that’s assuming no big bank failures or recessions that may require fed funds over the period.