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Media Conference Call: Benn Steil on Federal Reserve Exit Strategy

Speaker: Benn Steil, Council on Foreign Relations
Presider: Michelle Caruso-Cabrera, CNBC
May 7, 2013

CFR Director of International Economics Benn Steil urges the Federal Reserve to swap mortgage-backed securities with the U.S. Treasury in exchange for Treasury securities, which the Fed can then sell as part of a normal process of monetary tightening as a solution for the prospective challenge of containing inflation, buttressing a collapsed housing market, and normalizing its bloated balance sheet.


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