Debate Surrounding Federal Reserve’s Balance Sheet

Is it time to shrink the Fed’s balance sheet?

https://www.bloomberg.com/news/articles/2017-01-24/fed-debate-over-4-5-trillion-balance-sheet-looms-in-2017

US Economic Update from John Williams [President of Federal Reserve Bank of San Francisco]
http://www.frbsf.org/economic-research/files/el2017-02.pdf