{"page":"\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/resources-572d6a42.css\" /\u003e\n\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/lp_boclips_stylesheets-f4d0de30.css\" media=\"all\" /\u003e\n\u003cdiv data-title='Yellen: Fed to modestly reduce bond holdings' data-url='/boclips/videos/5c54d5fbd8eafeecae1ffef1' data-video-url='/boclips/videos/5c54d5fbd8eafeecae1ffef1' id='bo_player_modal'\u003e\n\u003cdiv class='boclips-resource-page modal-dialog panel-container'\u003e\n\u003cdiv class='react-notifications-root'\u003e\u003c/div\u003e\n\u003cdiv class='rp-header'\u003e\n\u003cdiv class='rp-type'\u003e\n\u003ci aria-hidden='true' class='fai fa-regular fa-circle-play'\u003e\u003c/i\u003e\nVideo\n\u003c/div\u003e\n\u003ch1 class='rp-title' id='video-title'\u003e\nYellen: Fed to modestly reduce bond holdings\n\u003c/h1\u003e\n\u003cdiv class='rp-actions'\u003e\n\u003cdiv class='mr-1'\u003e\n\u003ca class=\"btn btn-success\" data-posthog-event=\"Signup: LP Signup Activity\" data-posthog-location=\"body_link_boclips\" data-remote=\"true\" href=\"/subscription/new\"\u003e\u003cspan\u003e\u003cspan\u003eGet Free Access\u003c/span\u003e\u003cspan class=\"\"\u003e for 10 Days\u003c/span\u003e\u003cspan\u003e!\u003c/span\u003e\u003c/span\u003e\u003c/a\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-body'\u003e\n\u003cdiv class='rp-info'\u003e\n\u003cdiv aria-label='Hide resource details' class='rp-hide-info' role='button' tabindex='0'\u003e\u0026times;\u003c/div\u003e\n\u003ci aria-label='Expand resource details' class='rp-expand-info fai fa-solid fa-up-right-and-down-left-from-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003ci aria-label='Compress resource details' class='rp-compress-info fai fa-solid fa-down-left-and-up-right-to-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003cdiv class='rp-rating'\u003e\n\u003cspan class='resource-pool'\u003e\n\u003cspan class='pool-label'\u003ePublisher:\u003c/span\u003e\n\u003cspan class='pool-name'\u003e\n\u003cspan class='text'\u003e\u003ca data-publisher-id=\"30356011\" href=\"/search?publisher_ids%5B%5D=30356011\"\u003eCurated Video\u003c/a\u003e\u003c/span\u003e\n\u003c/span\u003e\n\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-description'\u003e\n\u003cspan class='short-description'\u003eThe Federal Reserve will begin shrinking the enormous portfolio of bonds it amassed after the 2008 financial crisis to try to sustain a frail economy. The move reflects a strengthened economy and could mean higher rates on mortgages and...\u003c/span\u003e\n\u003cspan class='full-description hide'\u003eThe Federal Reserve will begin shrinking the enormous portfolio of bonds it amassed after the 2008 financial crisis to try to sustain a frail economy. The move reflects a strengthened economy and could mean higher rates on mortgages and other loans over time. \u003cbr/\u003e              The Fed announced Wednesday that it will let a small portion of its $4.5 trillion balance sheet mature without being replaced, starting in October with reductions of $10 billion a month and gradually rising over the next year to $50 billion a month. \u003cbr/\u003e              The central bank left its key short-term rate unchanged but hinted at one more hike this year — most likely in December — if persistently low inflation rebounds. The Fed policymakers' updated economic forecasts show an expectation for three more rate hikes in 2018.\u003cbr/\u003e              Staying mum about whether she wants a second term, Federal Reserve Chair Janet Yellen said she intends to serve out her four-year term. That term ends Feb. 3, 2018. \u003cbr/\u003e              Yellen declined to say at a news conference whether she would like to serve a second term. She met several months ago with President Donald Trump, who spoke favorably of her afterward.\u003cbr/\u003e              Additionally, Yellen noted that \"severe disruptions\" from Hurricanes Harvey, Irma and Maria will briefly hold down economic growth, adding that she expects growth to rebound as the rebuilding process takes hold. \u003cbr/\u003e              Her remarks at a news conference Wednesday suggest that the Fed anticipates that economic growth could be somewhat tepid relative to the expectations before the storms made landfall.\u003cbr/\u003e            \u003cbr/\u003e\u003cbr/\u003e              POOL \u003cbr/\u003e              Washington DC - 20 September 2017\u003cbr/\u003e              1. Wide of US Federal Reserve Chair Janet Yellen taking a seat\u003cbr/\u003e              2. SOUNDBITE (English) Janet Yellen, US Federal Reserve Chair: \u003cbr/\u003e              \"Good afternoon, at our meeting that concluded earlier today, my colleagues and I on the Federal Open Market Committee decided to maintain the target range for the federal funds rate at 1 to 1.25 percent. This accommodative policy should support some further strengthening in the job market and return to 2 percent inflation consistent with our statutory objectives. We also decided that in October, we will begin the balance sheet normalization program that we outlined in June. This program will reduce our securities holdings in a gradual and predictable manner.\"\u003cbr/\u003e              3. Cutaway \u003cbr/\u003e              4. SOUNDBITE (English) Janet Yellen, US Federal Reserve Chair: \u003cbr/\u003e              \"As we expected, and smoothing through some variation from quarter to quarter, economic activity has been rising moderately so far this year. Household spending has been supported by ongoing strength in the job market. Business investment has picked up, and exports have shown greater strength this year, in part reflecting improved economic conditions abroad. Overall, we expect that the economy will continue to expand at a moderate pace over the next few years.\"\u003cbr/\u003e              5. Cutaway \u003cbr/\u003e              6. SOUNDBITE (English) Janet Yellen, US Federal Reserve Chair: \u003cbr/\u003e              \"In the third quarter, however, economic growth will be held down by the severe disruptions caused by hurricanes Harvey, Irma and Maria. As activity resumes and rebuilding gets under way, growth likely will bounce back. Based on past experience, these effects are likely to materially alter the course of the national economy beyond the next couple of quarters.\"\u003cbr/\u003e              7. Cutaway\u003cbr/\u003e              8. SOUNDBITE (English) Janet Yellen, US Federal Reserve Chair: \u003cbr/\u003e              \"By limiting the volume of securities that private investors will have to absorb as we reduce our holdings, the caps should guard against the outsized moves in interest rates and other potential market strains. Finally, as we have noted previously, changing the target range for the federal funds rate is our primary means of adjusting the stance of monetary policy.\"\u003cbr/\u003e              9. Cutaway \u003cbr/\u003e              10. SOUNDBITE (English) Janet Yellen, US Federal Reserve Chair: \u003cbr/\u003e              \"I have said that I intend to serve out my term as chair and that I'm really not going to comment on my intentions beyond that I will say that I have not had a further meeting with President Trump. I met with early in my term and I've not had a further meeting with him.\"\u003cbr/\u003e              11. 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