“新美联储通讯社”：美联储称考虑暂停或放缓 QT 直到债务上限解决，可能是合适的
The Federal Reserve discussed the possibility of pausing or slowing down the reduction of its balance sheet at the January meeting due to the complex issue of raising the federal debt ceiling. The minutes of the meeting indicated that officials believed it might be appropriate to pause or slow down the balance sheet reduction before the debt ceiling issue is resolved. This move could impact the Fed's reserve management and fluctuations in the money market
Nick Timiraos from the "New Federal Reserve News Agency" stated that the minutes from the Federal Reserve's January meeting show that officials discussed whether to slow down or pause the reduction of its nearly $6.8 trillion asset portfolio during last month's meeting.
Timiraos pointed out that the Federal Reserve faces complex issues arising from raising the federal debt ceiling in the coming months. Dynamics related to the debt ceiling could lead to significant fluctuations in the Federal Reserve's liabilities. The process of balance sheet reduction will ultimately deplete reserves in the banking system, and Federal Reserve officials are uncertain how long this process will last. How the U.S. Treasury manages its cash balances, which could trigger fluctuations in the money market, may complicate the Federal Reserve's ability to determine the correct reserve balance.
Therefore, according to the minutes, officials at the January meeting believed that "considering a pause or slowdown in the reduction of the balance sheet until the debt ceiling issue is resolved may be appropriate."
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