Fed's Powell said central bank is cutting 10% of its staff

"We're cutting the size of our balance sheet quite marginally. As you know with the balance sheet, we're still in abundant reserves condition, we said that we would stop somewhat above ample reserves level. That's where we are, we're getting closer to that, we're monitoring it very carefully. We don't think that has at all significant macroeconomic effects. These are all pretty small numbers moving around inside a giant economy. The level of run off is not very large, so I wouldn't attribute macroeconomic consequences to that at this point."