As Reuters reported "Mester favors steps this year to reduce Fed's balance sheet" (3/21/2017)www.reuters.com/article/us-usa-fed-mester-idUSKBN16S2V7
A balance sheet reduction could be a way to slow the economy without raising short term rates. This would be especially relevant if the Fed committee members believe that asset "bubbles" appear in any markets.
Consider saving the link below to follow any future balance sheet changes:
Federal Reserve Bank of New York System Open Market Account Holdings
Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.
Additional disclosure: I hold mutual funds which may hold the debt of the two listed ticker symbols. I also work in the mortgage industry and will not benefit from rising rates.