binance left Coinmarketcap net_left adver left

NY Fed's Logan says redemption caps can ensure smooth balance sheet reduction

Monday, January 10, 2022
NY Fed's Logan says redemption caps can ensure smooth balance sheet reduction © Reuters. FILE PHOTO: People walk wearing masks outside The Federal Reserve Bank of New York in New York City, U.S., March 18, 2020. REUTERS/Lucas Jackson

By Jonnelle Marte

(Reuters) - Several aspects of the approach Federal Reserve officials took the last time they reduced the U.S. central bank's balance sheet may prove helpful during this cycle, including setting monthly caps on the amount of bonds that are redeemed, a top New York Fed official said.

Lorie Logan, the head of the New York Fed's market operations and manager of the System Open Market Account, said the Fed used an "organic" process when it reduced its balance sheet in 2018 and 2019. Officials did not sell assets, choosing instead not to reinvest bond holdings as they matured and setting caps on the amount of bonds redeemed each month.

"I think overall this process, that process of natural maturities rather than sales and caps to ensure a steady pace seemed to work quite well," Logan said during an interview posted on Monday with Macro Musings, a podcast run by the Mercatus Center at George Mason University.

Fed officials signaled they may be ready to start reducing the central bank's holdings of more than $8 trillion of bonds later this year, according to a readout of the central bank's December policy meeting.

The Fed will be monitoring markets closely it begins to shrink the balance sheet to look for signs that reserve levels are getting too low, Logan said.

Some Fed officials expect a new standing repo facility could serve as a backstop and help to lower demand for reserves, according to the minutes of the Dec. 14-15 meeting, potentially allowing for a smaller balance sheet than would be possible without the tool.

"The key point is that the long run size of the balance sheet is uncertain because banks' demand for reserves varies over time," Logan said during the interview.

Leave your comment
ig right nyse right Neteller adver right
APPROVED BROKERS
rakuten_main right top net_home_top ig_main right top Binance _ main right top fbs_main right top tifia_main right top
26-01-2022 08:33:55 (UTC+7)

EUR/USD

1.1274

-0.0025 (-0.22%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (11)

EUR/USD

1.1274

-0.0025 (-0.22%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (11)

GBP/USD

1.3506

+0.0010 (+0.08%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

USD/JPY

114.29

+0.43 (+0.37%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (0)

AUD/USD

0.7171

+0.0024 (+0.33%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (3)

Sell (2)

USD/CAD

1.2572

-0.0055 (-0.44%)

Summary

↑ Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (8)

Sell (0)

EUR/JPY

128.85

+0.19 (+0.15%)

Summary

Neutral

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (1)

Sell (7)

EUR/CHF

1.0380

+0.0006 (+0.06%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (7)

Gold Futures

1,846.85

-5.65 (-0.30%)

Summary

Neutral

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (3)

Sell (5)

Silver Futures

23.970

+0.074 (+0.31%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (9)

Sell (0)

Copper Futures

4.5305

+0.0805 (+1.81%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

Crude Oil WTI Futures

86.84

+1.24 (+1.45%)

Summary

Neutral

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (3)

Sell (4)

Brent Oil Futures

88.48

+1.30 (+1.49%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (7)

Sell (2)

Natural Gas Futures

4.159

+0.265 (+6.81%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (5)

Sell (3)

US Coffee C Futures

240.70

+2.80 (+1.18%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (1)

Euro Stoxx 50

4,183.25

+104.99 (+2.57%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

S&P 500

4,356.45

-53.68 (-1.22%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (10)

DAX

15,507.70

+383.83 (+2.54%)

Summary

↑ Buy

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (8)

Sell (0)

FTSE 100

7,511.85

+140.39 (+1.90%)

Summary

Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (5)

Sell (1)

Hang Seng

24,289.90

+46.29 (+0.19%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (0)

US Small Cap 2000

2,004.80

-28.71 (-1.41%)

Summary

↑ Sell

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (2)

Sell (8)

IBEX 35

8,669.40

+189.90 (+2.24%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (3)

Sell (4)

BASF SE NA O.N.

67.780

+2.450 (+3.75%)

Summary

Neutral

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (3)

Sell (3)

Bayer AG NA

51.77

+0.95 (+1.87%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (0)

Allianz SE VNA O.N.

224.90

+4.85 (+2.20%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

Adidas AG

246.88

+9.13 (+3.84%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (10)

Sell (0)

Deutsche Lufthansa AG

7.067

+0.390 (+5.84%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (1)

Siemens AG Class N

142.83

+4.31 (+3.11%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (0)

Deutsche Bank AG

11.461

+0.387 (+3.49%)

Summary

Neutral

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (2)

Sell (5)

 EUR/USD1.1274↑ Sell
 GBP/USD1.3506↑ Sell
 USD/JPY114.29↑ Buy
 AUD/USD0.7171Neutral
 USD/CAD1.2572↑ Buy
 EUR/JPY128.85Neutral
 EUR/CHF1.0380↑ Sell
 Gold1,846.85Neutral
 Silver23.970↑ Buy
 Copper4.5305↑ Buy
 Crude Oil WTI86.84Neutral
 Brent Oil88.48↑ Buy
 Natural Gas4.159↑ Buy
 US Coffee C240.70↑ Buy
 Euro Stoxx 504,183.25↑ Buy
 S&P 5004,356.45↑ Sell
 DAX15,507.70↑ Buy
 FTSE 1007,511.85Buy
 Hang Seng24,289.90↑ Buy
 Small Cap 20002,004.80↑ Sell
 IBEX 358,669.40↑ Sell
 BASF67.780Neutral
 Bayer51.77↑ Buy
 Allianz224.90↑ Buy
 Adidas246.88↑ Buy
 Lufthansa7.067↑ Buy
 Siemens AG142.83↑ Buy
 Deutsche Bank AG11.461Neutral
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank6,190/ 6,240
(-5/ -5) # 1,175
SJC HCM6,180/ 6,245
(-10/ -10) # 1,179
SJC Hanoi6,180/ 6,247
(-10/ -10) # 1,181
SJC Danang6,180/ 6,247
(-10/ -10) # 1,181
SJC Nhatrang6,180/ 6,247
(-10/ -10) # 1,181
SJC Cantho6,180/ 6,247
(-10/ -10) # 1,181
Cập nhật 26-01-2022 08:33:58
Xem lịch sử giá vàng SJC: nhấn đây!
ↀ Giá vàng thế giới
$1,847.52-2.22-0.12%
Live 24 hour Gold Chart
ʘ Giá bán lẻ xăng dầu
Sản phẩmVùng 1Vùng 2
RON 95-IV2486025350
RON 95-II,III
E5 RON 92-II2359024060
DO 0.05S1890019270
DO 0,001S-V1925019630
Dầu hỏa1779018140
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD22.460,0022.770,00
EUR24.918,8126.315,80
GBP29.789,2431.061,45
JPY192,82204,12
KRW16,3519,92
Cập nhật lúc 18:54:49 26/01/2022
Xem bảng tỷ giá hối đoái
binance main right Fxpro Main Right aetos main right adver main right