Federal Reserve Bank of Dallas President Lorie Logan. Earlier comments here:
More now:
- Not thinking about when Fed might cut rates
- Central bank market support interventions should be rare, transparent
- Fed has taken important steps to provide market liquidity backstops
- Anecdotal information is important for policy making
- Persistent rise in bond yields could mitigate need for Fed rate hikes
- Tighter financial conditions desired, will slow economy
- NY Fed has extensive dashboard to monitor money markets
- Reverse repo facility running down very smoothly
- Quite uncertain what right level of reserves is for banks
- Need to get fed reverse repo facility close to zero
- Unsure how fast reverse repo facility will shrink
- sees quite a bit of time left for balance sheet runoff
Bolding above is mine.
Fed's Logan
