Fed, interest rates

Another insightful perspective by the highly-respected Ray Dalio.  **JB**

by Ray Dalio  Chairman & Chief Investment Officer at Bridgewater Associate

There have been many references to the FED shrinking its balance sheet recently. This is a good explanation of what it means and why authorities are being so careful not to surprise markets.  **JB**

Federal Reserve officials grappling with the legacy of expansive stimulus would find it difficult to return to the central bank’s precrisis role on the sidelines of financial markets, analysts and central-bank watchers say.