July 07, 2022 13:17 GMT
Ex-Fed board economist Bill Nelson tells MNI's FedSpeak podcast that the cost to taxpayers from Fed balance sheet losses is underappreciated.
- “Those losses are really just as consequential whether their unrealized or realized in terms of the outlook for future Fed income," said Nelson, a former deputy director of monetary affairs at the Fed.
- The conduct of monetary policy won't be affected, but Treasury remittances may be on hold for a year or more.
- Listen to the podcast here.