Loretta Mester, Speech: The Great Recalibration of U.S. Monetary Policy

“The plan that the FOMC announced last week did not rule out asset sales, and I would favor the FOMC considering asset sales after balance-sheet reduction is well underway to speed up the return of the portfolio’s composition to being primarily Treasury securities. This would be consistent with the FOMC’s stated desire to minimize the effect of the Fed’s balance-sheet holdings on the allocation of credit across economic sectors.”