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Fed's Daly: balance sheet reduction should be gradual, predictable

Economy Feb 24, 2022 11:49AM ET
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© Reuters. FILE PHOTO: San Francisco Federal Reserve Bank President Mary Daly poses at the bank’s headquarters in San Francisco, California, U.S., July 16, 2019. REUTERS/Ann Saphir/File Photo/File Photo

(Reuters) - The Federal Reserve should reduce its balance sheet earlier in the policy tightening cycle and more rapidly than the last time it did so, San Francisco Federal Reserve Bank President Mary Daly said on Thursday, but the process should also gradual and predictable

"We also need to ensure that don't need to make adjustments to the balance sheet on each and every meeting, because we just don't know enough about it to make it a surgical tool," Daly said at a Bank of England conference. "We are going to need to be very mindful that it needs to be resilient to needing to move faster on the funds rate, or needing to make it slower - a positive shock to the economy, or a negative shock to the economy."

Fed's Daly: balance sheet reduction should be gradual, predictable
 

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jerry mcbride
jerry mcbride Feb 24, 2022 11:51AM ET
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So said the spider to the fly
 
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