federal reserve

  Federal Reserve Governor Christopher Waller recently offered his perspective on the Fed’s balance sheet, which still stands at over $6.6 trillion. According to Waller, the issue facing the central bank is not the size of the Fed’s balance sheet but the structure of its assets — especially their duration. It’s a compelling case, and it deserves a […]

  Federal Reserve Vice Chair for Supervision Michelle Bowman offered a pointed observation last week: some of the most consequential shifts in financial policy are not the product of deliberate votes or formal rule changes. Instead, they emerge quietly, when regulations written for one set of conditions become more and more binding as the conditions […]