Williams says gradual asset purchases will follow to maintain ample reserves as Fed liabilities grow over time.
“It will then be time to begin the process of gradual purchases of assets that will maintain an ample level of reserves as the Fed’s other liabilities grow and underlying demand for reserves increases over time.”
Williams says Fed will begin gradual asset purchases to maintain ample reserves once that level is reached.
“Looking forward, the next step in our balance sheet strategy will be to assess when the level of reserves has reached ample.”
Williams says Fed will begin gradual asset purchases once reserves reach ample level to maintain that level.
“It will then be time to begin the process of gradual purchases of assets that will maintain an ample level of reserves”