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The Fed’s announced plan is to shrink the balance sheet by $10 billion a month in October, November, and December, then accelerate the pace every three months. By October 2018, the Fed would reduce its holdings by up to $50 billion a month (= $600 billion a year) and continue at that rate until it deems the level of its holdings “normal” – the new normal , whatever that may turn out to be.

Steve Allen was the first host of "Tonight." His run on the show set the bar for nearly every talk show to come. He was a pioneer and his impact is still felt today.


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