Global Macro Service > Research Briefings > United States

Powell “pre-announces” balance sheet expansion

Fed Chair Powell confirmed, as we expected, that the Fed will soon start to expand the size of its balance sheet to replenish reserves to an equilibrium and “organically” grow the balance sheet in line with currency demand. He delivered this news at the National Association of Business Economists (NABE) annual meeting. We are surprised that Powell has made such a “pre-announcement” and in doing so was light in providing key details.

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