In contrast, if the Committee judges that the recovery is proceeding at an insufficient pace, we could undertake portfolio actions such as additional asset purchases or a further maturity extension program.
It is for this reason that the FOMC emphasized, in its statement following the April meeting, that it would “regularly review the size and composition of its securities holdings and is prepared to adjust those holdings as appropriate to promote a stronger economic recovery in a context of price stability.” 23  22  See Board of Governors, “FOMC Statement,” January 25, in note 9.