• says Fed should sell MBS at a steady price

Richmond Fed chief will be an FOMC voting member in 2015 and has published a statement on the Richmond Fed website

I cannot support the Committee’s planned approach to moving the Fed’s balance sheet toward its normal state, however. In particular, the statement says that the Committee currently does not anticipate selling agency mortgage-backed securities (MBS). I believe this approach unnecessarily prolongs our interference in the allocation of credit. The Fed’s MBS holdings may put downward pressure on mortgage rates, compared to holding an equivalent amount of Treasury securities, but if so, then other borrowers would likely face higher interest rates. While this would favor home mortgage borrowers, it tilts the playing field against other borrowing by consumers

The full statement is here

I'm gonna get me a vote next year. Yippee!

I’m gonna get me a vote next year. Yippee!