The Fed will soon announce plans to buy more short-term Treasurys over time in a bid to smooth funding-market hiccups, not stimulate the economy
DENVER—Federal Reserve Chairman Jerome Powell said Tuesday the central bank will soon announce plans to increase the amount of short-term Treasury securities it purchases over time in order to avoid a repeat of last month’s unexpected strains in wholesale funding markets.
Fed officials stopped shrinking their asset portfolio, sometimes called a balance sheet, in August. But they haven’t said when they will allow it to grow again to account for growth in the central bank’s liabilities, such as currency.
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