Fed Unfiltered, Up to Speed: Quantitative Tightening (QT)

Quantitative Tightening (QT): The Fed Board talks about the impact of balance sheet expansion.  Waller mentions a level of ample reserves (11% of GDP).  The NY Fed covers the caps/runoffs of QT while the Richmond Fed & Atlanta Fed talk about the uncertainty of QT, and how the reductions are another form of tightening.  In two reports, the Richmond Fed identifies a level of ample reserves (20% of GDP) and the time it’ll take to get there.