The left panel shows the assumed contour of an expected acceleration of asset sales that would renormalize the overall size of the portfolio within about two years (solid line), roughly twice as fast as under the baseline scenario (dashed line).
Each time we come to a crossroads such as this, analysts would say we are in “uncharted” territory. I also cannot disagree with that. For certain, no one can be absolutely sure about a few things: 1. The convergence between the recent pronouncements of various Fed officials and what the Fed will ultimately end up doing.