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Bostic: Open Question Whether Asset Runoff Pace Should Change

FED
  • Bostic (’24 voter) says it’s an open question on whether the asset runoff pace should change, with the current pace deemed “appropriate” (Bloomberg).
  • The plan is to work with team over the next six months to get a better view of how balance sheet policy should evolve (Reuters).
  • Will be looking for early signs that changes in unemployment are starting to accelerate, not seeing it yet (Reuters).

It follows Dallas Fed’s Logan (non-voter) on Saturday saying "In my view, we should slow the pace of runoff as ON RRP balances approach a low level. Normalizing the balance sheet more slowly can actually help get to a more efficient balance sheet in the long run by smoothing redistribution and reducing the likelihood that we'd have to stop prematurely."

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