Federal Reserve Bank of Boston President Rosengren
- speaking in Hong Kong
Headlines via Reuters
- Says returning Fed assets to pre-crisis levels not desirable, feasible; balance sheet likely to grow
- it may be important for Fed to increase share of treasury bills, lower duration of its balance sheet more quickly
- says balance sheet policies did not cause late-2018 market turbulence
- central banks globally likely to reach rates' lower limit quickly in a recession, making asset buying possible
- Fed will need to consider when to purchase securities to offset declining reserves as currency grows
- Important for public to become more comfortable with benefits of fed using its balance sheet
(bolding mine)