From October, the Fed will cut the purchase of government bonds and mortgage bonds by 10 billion a month for three months, thus reducing its balance sheet and easing the anti-crisis measures adopted since 2008 to deal with the crisis that arose from subprime mortgages and then became systemic for the unexpected bankruptcy of Lehman Brothers.
The historic reduction of its balance sheet, which has reached record assets of 4 trillion dollars, is the main decision taken yesterday by the Fed which instead left rates unchanged between 1 and 1,25%.
Today the Fed's moves are being examined by the markets.