Core Viewpoint - The Federal Reserve's balance sheet needs to be reduced, but this does not preclude large-scale asset purchases during economic crises [1][2]. Group 1: Balance Sheet Management - Federal Reserve Governor Stephen Milan supports a gradual reduction of the balance sheet, emphasizing that it cannot be implemented immediately due to regulatory hurdles [2][3]. - Reducing the balance sheet will decrease the Federal Reserve's presence in financial markets, allowing policymakers more options during future crises [1][2]. Group 2: Economic Context - Milan stated that expanding the balance sheet is appropriate when reaching the zero lower bound on interest rates and during financial crises, but it is essential to retain strength before taking such actions [1][2]. - Investor and analyst scrutiny of the Federal Reserve's stance on the balance sheet has increased following President Trump's announcement to nominate Kevin Warsh to replace Jerome Powell as Fed Chair [1][2].
美联储理事米兰表示 金融危机时应扩大资产负债表
Xin Lang Cai Jing·2026-02-10 01:53