in place that's really making progress and to see congress take actions that would endanger that begress, i think that would more than unfortunate. to me, that's the job of congress. congress charged us with warming and economic outlook that is focused on the medium term taking appropriate policy actions based on that outlook and that is what we've done in the past and will continue to do going forward. >> madam chair, you said in your opening statement that the fed's policy of maintaining a large balance sheet by not starting to shrink the balance sheet by curtailing re-investments and rollovers help set your accommodative monetary stance on top of the near zero federal funds rate. by delaying rate hikes logically are you not also delaying reducing the balance sheet? one euro ago the he said it would start shrinking the balance sheets until they started raising the funds rate. you areconcern that delaying normalization of the balance sheet? was that an issue you and your colleagues discussed? thank you. been and as was reported in the minutes of our july meeting, we have been discussing

in place that's really making progress and to see congress take actions that would endanger that begress, i think that would more than unfortunate. to me, that's the job of congress. congress charged us with warming and economic outlook that is focused on the medium term taking appropriate policy actions based on that outlook and that is what we've done in the past and will continue to do going forward. >> madam chair, you said in your opening statement that the fed's policy of maintaining a large balance sheet by not starting to shrink the balance sheet by curtailing re-investments and rollovers help set your accommodative monetary stance on top of the near zero federal funds rate. by delaying rate hikes logically are you not also delaying reducing the balance sheet? one euro ago the he said it would start shrinking the balance sheets until they started raising the funds rate. you areconcern that delaying normalization of the balance sheet? was that an issue you and your colleagues discussed? thank you. been and as was reported in the minutes of our july meeting, we have been discussing