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MNI BRIEF: Powell-QT Trim To Extend Approach To Ample Reserves

USCentral Bank NewsPolicy NewsFederal ReserveEM Policy NewsEM BriefBriefStoryNorth America

MNI (WASHINGTON) - The Federal Reserve slowed the pace of Treasury runoffs from its balance sheet in order to gauge more gradually what might be considered an "ample" level of reserves in the banking system, Fed Chair Jerome Powell said Wednesday. 

"We came to the view that this was a good time to make the move that we made," he said. "We are going to cut it roughly in half. And the sense of that is, if you are cutting the pace of QT roughly in half, then the runway has probably doubled." (See MNI POLICY: Fed Seeks Market Signals To End QT, Pause Possible) 

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MNI (WASHINGTON) - The Federal Reserve slowed the pace of Treasury runoffs from its balance sheet in order to gauge more gradually what might be considered an "ample" level of reserves in the banking system, Fed Chair Jerome Powell said Wednesday. 

"We came to the view that this was a good time to make the move that we made," he said. "We are going to cut it roughly in half. And the sense of that is, if you are cutting the pace of QT roughly in half, then the runway has probably doubled." (See MNI POLICY: Fed Seeks Market Signals To End QT, Pause Possible) 

Keep reading...Show less