Powell: Fed Could Soon Slow Balance Sheet Runoff
Federal Reserve Chair Jerome Powell stated that the Fed may be nearing a "somewhat ample" reserve level, indicating a potential end to balance sheet reduction.
Our long-stated plan is to stop balance sheet runoff when reserves are somewhat above the level we judge consistent with ample reserve condition.
Powell noted that the Fed is closely monitoring indicators and may approach this point in the coming months, citing signs of tightening liquidity conditions, including firming repo rates and temporary pressures on selected dates.
Author's summary: Powell hints at slowing balance sheet reduction.
- The Fed holds over $6 trillion in securities on its balance sheet.
- Powell spoke at the National Association for Business Economics conference in Philadelphia.
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