Logan (Headlines via Reuters):
- asset purchases used to support market functioning are not an equal part of the monetary policy tool kit as asset purchases to provide accommodation
- says desk is monitoring global developments carefully in wake of Ukraine events
- she expects circumstances warranting sizable interventions to support market functioning to be extraordinarily rare
- principal payments from treasury holdings over the next few years will range from $40 billion to $150 billion per month, averaging around $80 billion
- agency MBS principal payments could average nearly $25 billion per month over the next few years, but there is considerable uncertainty
- soma securities have more room to decline than during the prior period of runoff
- expects usage of reverse repo facility to decline over time as the fed shrinks balance sheet
- use of reverse repo facility could increase as rates rise
