Waller offered a rare dissent from a Fed governor this week but it was related to the pace of the balance sheet runoff.
- Slowing or stopping runoff will be appropriate as we get closer to ample reserves
- In my view we’re not there yet because reserve balances stand at over $3 trillion and this level is abundant
- No evidence that banking system is getting close to ample level of reserves
This article was written by Adam Button at www.forexlive.com.
