Fed's Waller: Fed has long way to go to shrinking size of Balance Sheet ...Middle East

U.S. central bank likely has some ways to go in shrinking the size of its holdings

$2.7 trillion in reserves might be right level to aim for vs current $3.3 trillion

Should consider shifting holdings more toward Treasury bills over time

A shift toward greater bill holdings likely lies down the road

Fed holds too many long-maturity assets right now

The Fed holds treasuries across the curve. Waller would like to see a gradual shift to the shorter end where the risks are minimal. The Fed ballooned the balance sheet post Covid to stimulate the economy. They have been unwinding but Waller suggests taking it slow.

This article was written by Greg Michalowski at www.forexlive.com.

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