<p>John Williams, President of the Federal Reserve Bank of New York (a permanent voter on the FOMC and regarded as the third-most powerful figure at the Fed): Liquidity regulation reforms should take into account bank safety concerns.
The debate over the Balance Sheet should not focus on the nominal size of holdings.
It remains unclear how much further the Federal Reserve's Balance Sheet can be reduced.</p>

<p>John Williams, President of the Federal Reserve Bank of New York (a permanent voter on the FOMC and regarded as the third-most powerful figure at the Fed): Liquidity regulation reforms should take into account bank safety concerns. The debate over the Balance Sheet should not focus on the nominal size of holdings. It remains unclear how much further the Federal Reserve's Balance Sheet can be reduced</p>

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