Fed's Logan speech - not on her economic nor monetary policy outlook

Headlines from a speech by Lorie Logan, NY Fed (senior VP), head of Market Operations Monitoring and Analysis (MOMA) at the NY Fed

• MOMA executes monetary policy at the direction of the FOMC

Noting these, but nothing on current policy.

• Eventual Treasury purchases likely to be larger than before financial crisis because Fed's liabilities grow faster
• Says NY Fed will study money markets to see how they operate with lower level of bank reserves in the system
• Says 'ample reserves' policy to keep rates stable if Fed needs to supply liquidity, buy assets to support economy
• Bank borrowing rates above interest on excess reserves does not mean reserves are not well supplied
• US bank reserves are ample, above system's demands
• Fed will eventually need to buy treasuries to offset decline in reserves
• Says NY Fed might have to respond to unanticipated changes in reserves by conducting repo operations