The Federal Reserve will soon resume purchases of Treasuries to expand its balance sheet in hopes of preventing a repeat of the recent disruption in short-term lending markets, chairman Jay Powell said on Tuesday.
Speaking in Denver, Mr Powell said the action differed from the crisis-era programme known as quantitative easing, and was directed at solving “recent technical issues” rather than materially affecting “the stance of monetary policy.”
“I want to emphasise that growth of our balance sheet for reserve management purposes should in no way be confused with the large-scale asset purchase programs that we deployed after the financial crisis,” he told the National Association of Business Economists.
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