Fed has been gradually raising interest rates and unwinding its balance sheet from the record $4.5 trillion level, which will put upward pressure on sovereign debt securities and mortgage-backed securities. Yet the impact is expected to be small and well-controlled. Articulated goal of reducing balance sheet will reflect in limited amount of monthly securities roll off in a measured and orderly pace. OppenheimerFunds estimates that Fed will prevent a $430 billion roll off over 5 years, which means enterprises can still enjoy accommodative monetary policy to nurture their business.