After that meeting, the Fed announced it planned to start reducing the balance sheet sometime this year but provided no timetable. The amount of assets on the Fed's balance sheet more than quadrupled to $4.5 trillion since 2008 as the central bank bought Treasury bonds and mortgage-backed securities to try to stimulate the economy. In their forecasts, Fed officials have signaled another small rate increase is coming this year, and three more are expected in 2018 until the rate reaches about 2.1%. Over time, the Fed's assets would be reduced "to a level appreciably below that seen in recent years" but larger than before the crisis, officials said. jim.puzzanghera@latimes.comTwitter: @JimPuzzangheraUPDATES:11:40 a.m.: This article was updated with additional detail about how the Fed plans to reduce its assets.

Source: Los Angeles Times July 05, 2017 18:08 UTC