Confirming you are not from the U.S. or the Philippines

By giving this statement, I explicitly declare and confirm that:
  • I am not a U.S. citizen or resident
  • I am not a resident of the Philippines
  • I do not directly or indirectly own more than 10% of shares/voting rights/interest of the U.S. residents and/or do not control U.S. citizens or residents by other means
  • I am not under the direct or indirect ownership of more than 10% of shares/voting rights/interest and/or under the control of U.S. citizen or resident exercised by other means
  • I am not affiliated with U.S. citizens or residents in terms of Section 1504(a) of FATCA
  • I am aware of my liability for making a false declaration.
For the purposes of this statement, all U.S. dependent countries and territories are equalled to the main territory of the USA. I accept full responsibility for the accuracy of this declaration and commit to personally address and resolve any claims or issues that may arise from a breach of this statement.
Cancel Confirm
We are dedicated to your privacy and the security of your personal information. We only collect emails to provide special offers and important information about our products and services. By submitting your email address, you agree to receive such letters from us. If you want to unsubscribe or have any questions or concerns, write to our Customer Support.
Confirm
Octa trading broker Sign up Log in
Octa trading broker
Open trading account
Trading news
Back
28 May 2024

Fed’s Bowman: Important to keep reducing balance sheet size to reach ample reserves as soon as possible

Federal Reserve (Fed) Governor Michelle Bowman participated in a panel discussion titled "Policy Panel Discussion" at the Bank of Japan (BoJ) - Institute for Monetary and Economic Studies, in Tokyo, on Tuesday.

Key quotes

Would have supported either waiting to slow QT pace or a more tapered slowing in balance sheet run off.

'In my view' bank reserves are not yet near 'ample' levels given still-sizable take-up of on-RRP.

Important to keep reducing balance sheet size to reach ample reserves as soon as possible and while economy is strong.

Important to communicate any change to run-off rate do not reflect a change in Fed's monetary policy stance .

'Strongly' supports principle of balance sheet holdings primarily being composed of treasuries.

A longer-run balance sheet 'tilted slightly' toward shorter maturities would allow flexibility in approach.

In future, when Fed conducts QE to restore market functioning or financial stability it should communicate that purchases will be temporary and unwound when market conditions have normalized.

FOMC would have benefited from earlier decision to taper and end QE in 2021; would have allowed earlier rate hikes.

Market reaction

The US Dollar Index pays little heed to these above comments, keeping its range near 104.50, down 0.15% on the day.

May 28, 2024

Japanese Yen appreciates as Japan’s Services PPI hit fastest increase since March 2015

The Japanese Yen (JPY) continues to strengthen for the second consecutive day on Tuesday, drawing support from Japan’s Corporate Service Price Index (CSPI).
Read more Previous
May 28, 2024

Mester expects the Fed to consider communications as part of its next monetary policy framework review

Cleveland Federal Reserve President Loretta Mester participated in a panel discussion titled "Policy Panel Discussion" at the Bank of Japan (BoJ) - Institute for Monetary and Economic Studies, in Tokyo, on Tuesday.
Read more Next