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Fed’s Mester says she supports reducing balance sheet as fast as feasible -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: Loretta Mester (Cleveland Federal Reserve Bank) speaks in London, Britain on July 2, 2019. REUTERS/Marc Jones/File Photo

NEW YORK, (Reuters) – Now that the U.S. economic recovery is underway, Federal Reserve officials need to reduce their bond holdings so as not disrupt financial markets. Loretta Mester, Cleveland Fed president, said Wednesday.

Mester stated that the Fed should consider using higher redemption limits to reduce its balance sheet. She also said that while she wouldn’t rule out selling assets to actively acquire them, she stressed the economic state will determine those decisions.

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