Fed's Evans says he doesn't know yet when Fed will shrink its balance sheet

Balance sheet policy definitely on the agenda

Evans says the Fed will be clear about its balance sheet policy in the Q&A.

The problem is that while the Fed has been accumulating trillions on its balance sheet, it's barely discussed how it's going to exit.

Reading between the lines, it's clear that halting reinvestment and letting in run off will be the policy but there's also talk of getting out of MBS and swapping it to Treasuries first.

No one knows how much of the 2.39% 10-year Treasury yield is due to the Fed.