Fed's Bostic: Balance sheet reduction is designed to reduce uncertainty

According to The Wall Street Journal, Raphael Bostic, president of the Federal Reserve Bank of Atlanta, said that the mechanical wind down of the Federal Reserve's balance sheet was designed to reduce uncertainty, further adding that the path could change in response to unforeseen developments.

Earlier in the day, Jerome Powell, Chairman of the Federal Reserve System, said that the Fed could revisit the balance sheet program if reductions were to cause problems in the markets.