" Monetary Policy Report submitted to the Congress on February 11, 2014, Pursuant to Section 2B of the Federal Reserve Act." Accessed July 7, 2021.įederal Reserve System. Accessed July 7, 2021.įederal Reserve System. " Transcript of Chairman Bernanke’s Press Conference.". " Sweden Central Bank Balance Sheet." Accessed July 7, 2021.įederal Reserve System. " Assets: Total Assets: Total Assets (Less Eliminations from Consolidation): Wednesday Level (WALCL)." Accessed July 7, 2021. " Bank of England Balance Sheet - Total Assets in the United Kingdom (BOEBSTAUKA)." Accessed July 7, 2021.įederal Reserve Economic Data. " Central Bank Assets for Euro Area (11-19 Countries) (ECBASSETSW)." Accessed July 7, 2021.įederal Reserve Economic Data. " Switzerland Central Bank Balance Sheet." Accessed July 7, 2021.įederal Reserve Economic Data. " Bank of Japan: Total Assets for Japan (JPNASSETS)." Accessed July 7, 2021. " Semiannual Monetary Policy Report to the Congress." Accessed July 7, 2021.įederal Reserve Economic Data. Tapering is the first step in the process of either winding down-or completely withdrawing from-a monetary stimulus program that has already been executed.įederal Reserve Board. Tapering is the reduction of the rate at which a central bank accumulates new assets on its balance sheet under a policy of QE. Central banks, for the most part, have not been able to sustainably unwind their expanded balance sheets.Taper tantrums may lead central banks to promptly re-accelerate asset purchases (and essentially reverse the process of tapering).As a result of their dependence on sustained monetary stimulus under QE, the financial markets may experience a downturn in response to tapering this is known as a "taper tantrum.".Tapering refers specifically to the initial reduction in the purchasing of and accumulation of central bank assets.Tapering is the theoretical reversal of quantitative easing (QE) policies, which are implemented by a central bank and intended to stimulate economic growth.
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