What Happens As the Fed Reduces Its Large Balance Sheet? 

This week on Facing the Future we'll examine how policies of the Federal Reserve Board affect the economy and the budget. Did the Fed's "quantitative easing" go too far and last too long?
Our guest is Thomas Hoenig, former President of the Federal Reserve Bank of Kansas City and a member of the Federal Open Market Committee (FOMC) from 1991 to 2011.