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Fed's Miran lays out path to shrink central bank balance sheet further
Federal Reserve Governor Stephen Miran on Thursday said reducing the financial system's demand for high levels of liquidity could allow the central bank to substantially cut the size of its still large balance sheet and facilitate an easier stance of monetary policy than would otherwise be the case. “Shrinking the size of the balance sheet is desirable” and those who say it can’t happen “simply lack imagination,” Miran said in the text of a speech to be delivered before the Economic Club of Miami. Miran said easing liquidity regulations, tweaking bank stress tests, together with destigmatizing the usage ... (full story)
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As per Iranian Government request, please let this statement serve to represent that I am pausing the period of Energy Plant destruction by 10 Days to Monday, April 6, 2026, at 8 P.M., Eastern Time. Talks are ongoing and, despite erroneous statements to the contrary by the Fake News Media, and others, they are going very well. Thank you for your attention to this matter! President DONALD J. TRUMP
Thank you, Francisco, for the kind introduction. It is an honor to be here at the Economic Club of Miami. Tonight I will talk about a topic too large to ignore: the Federal Reserve's balance sheet. Like any other bank, the Fed's balance sheet is a record of the assets and liabilities we hold. The assets are primarily Treasury securities and agency mortgage-backed securities (MBS). The liabilities include all U.S. currency in circulation, reserve balances banks hold at the Fed, and the Treasury General Account. The size and composition of these holdings matter because they affect the amount of money in the banking system and influence broader financial conditions. Understanding how the balance sheet functions is essential to understanding how the Fed supports economic stability and conducts monetary policy. Tonight I will discuss the various regimes under which the Fed has operated its balance sheet and explain why, in my view, shrinking the size of the balance sheet is desirable. Next, I will explain why the challenge of shrinking the balance sheet is a solvable one, and then I will discuss potential paths forward toward accomplishing that goal. Finally, I will conclude with the monetary policy implications of such action. FED GOV MIRAN/ECON CLUB MIAMI: AS HARD AS IT IS, IT'S POSSIBLE TO SHRINK THE FED'S BALANCE SHEET WITHOUT RETURNING TO AN ERA A SCARCE RESERVES #Miran #FederalReserve #economy
WHITE HOUSE OFFICIALS CAUTIOUSLY HOPEFUL LATEST TALKS WITH IRAN ARE MAKING PROGRESS, SOURCES FAMILIAR WITH THE TALKS - CBS REPORTER TRUMP AND TOP WHITE HOUSE OFFICIALS HAVE BEEN TOLD THAT IRAN'S COUNTER-PROPOSAL WOULD LIKELY ARRIVE FRIDAY VIA INTERLOCUTORS -SOURCE
