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Fed's Waller: I preferred to continue current pace of balance sheet runoff
Fed
Waller offered a rare dissent from a Fed governor this week but it was related to the pace of the balance sheet runoff.
- Slowing or stopping runoff will be appropriate as we get closer to ample reserves
- In my view we're not there yet because reserve balances stand at over $3 trillion and this level is abundant
- No evidence that banking system is getting close to ample level of reserves
Source: Forex Live
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