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Fed’s Mester Supports Moves to Accelerate Balance-Sheet Wind-Down
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Federal Reserve Bank of Cleveland President Loretta Mester said Wednesday that as part of the central bank’s looming effort to shrink the size of its nearly $9 trillion balance sheet, she’d support taking active measures to speed that process along.
“While our principles state that we will reduce balance-sheet assets primarily by adjusting the reinvestment amounts of the principal payments we receive on our assets, I would support selling some of our mortgage-backed securities at some point during the reduction period to speed the conversion of our portfolio’s composition to primarily Treasurys,” Ms. Mester said in remarks given before a virtual gathering held by the European Economics and Financial Centre.
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