美联储主席鲍威尔：美联储做出了技术性决策，以放缓缩表速度

Odaily reported that Federal Reserve Chairman Powell: The Federal Reserve has made a technical decision to slow the pace of balance sheet reduction. (Gold Ten)

Odaily Odaily News: Federal Reserve Chairman Powell: The Federal Reserve has made a technical decision to slow the pace of balance sheet reduction. (Gold Ten)

Fed Chairman Powell: The Fed made a technical decision to slow down the pace of balance sheet reduction

Odaily Odaily News: Federal Reserve FOMC statement: Federal Reserve Board member Waller opposed this interest rate decision. He supports not changing the policy interest rate, but prefers not to change the pace of balance sheet reduction. (Jinshi)

Fed Governor Waller opposes adjusting the pace of balance sheet reduction

Odaily report: Monelli, an analyst at Tickmill Group, said in a report that the policy adjustment that may appear at the Federal Reserve meeting is the quantitative tightening plan. The recent meeting minutes emphasized that due to the imminent debt ceiling issue, "foreign exchange reserves may experience significant fluctuations in the coming months". The market strategist said this could prompt the Federal Reserve to "consider pausing or slowing the pace of balance sheet reduction". He said that any adjustment to the quantitative tightening plan could be seen as a cautious and moderate signal from the Federal Reserve. (Jinshi)

Tickmill Group: The Fed may adjust its quantitative tightening policy

Here is the English translation, with <> content retained as is:

The news from Mars Finance reports that according to Wall Street Journal reporter and "Fed mouthpiece" Nick Timiraos, Federal Reserve officials will consider adjusting their $6.8 trillion asset holding reduction policy. Over the past three years, the Federal Reserve has been reducing its portfolio of U.S. Treasuries and mortgage-backed securities accumulated during previous stimulus programs, including measures to stabilize the market during the 2020 pandemic. Currently, the Federal Reserve may choose to pause or slow down this balance sheet reduction process. This move aims to avoid a repeat of the situation in 2019, when the reduction of the balance sheet led to tensions in the overnight funding market, forcing the Federal Reserve to turn around and expand its holdings. Roberto Perli, the Federal Reserve Bank of New York official responsible for overseeing the balance sheet implementation, said this month that pausing the balance sheet reduction would be a "tactical decision" and "would not change the ultimate goal." RBC Capital Markets interest rate strategist Blake Gwinn pointed out that pausing the balance sheet reduction is reasonable because "the debt ceiling will distort these signals." Currently, the Federal Reserve allows up to $25 billion in Treasuries and $35 billion in mortgage-backed securities to mature without reinvestment each month. As the holdings decrease, bank reserves also decrease. However, the debt ceiling issue may disrupt this process, as the Federal Reserve is also the government's banker. Analysts expect the Federal Reserve may pause the balance sheet reduction for a few months until the debt ceiling is raised and the Treasury rebuilds its cash balance, and then resume. Gwinn said that if the economy deteriorates, this "pause" could also turn into a "stop," prompting officials to terminate this form of policy tightening.

Fed Chairman Powell: The Fed made a technical decision to slow down the pace of balance sheet reduction

Download app to participate in rewarding events