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Market jitters over balance sheet unwind are excessive: Yellen

The Federal Reserve’s balance sheet unwind has proved “modest” and market concerns are “overdone”, former Fed Chair Janet Yellen said during Credit Suisse’s 22nd Asian Investment Conference in Hong Kong. Following its March meeting, the Fed kept US interest rates unchanged — as was widely anticipated. Yet, as of October 2017, the Fed has endeavoured to reduce its portfolio by allowing mature…

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