A top Federal Reserve official has claimed the US central bank could eventually shrink its bloated $7tn balance sheet by up to $2tn, without roiling financial markets.
Stephen Miran, a Fed governor, on Thursday said measures such as easing liquidity regulations and destigmatising the use of some of the central bank’s lending operations could pave the way for “$1tn to $2tn of balance sheet reduction”.
Miran added his ideas would need to be “studied and calibrated”, with the implementation process taking “several years”.
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