Finally, in assessing our balance sheet policy, it is important to point out that the Fed remains entirely focused on meeting its statutory dual-mandate objectives of maximum employment and price stability. The normalization of the balance sheet is not a competing goal.
If ever it appears that our plans for the balance sheet are running counter to the achievement of our dual-mandate objectives, we would quickly reassess our approach to the balance sheet. 1 These remarks represent my own views, which do not necessarily represent those of the Federal Reserve  Board or the Federal Open Market Committee.