Federal Reserve Board Governor Bowman supports holding only Treasury bonds and reforming the monetary policy mechanism
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最新报道：According to Bijie.com, Federal Reserve Board Governor Bowman stated that the Fed should seek to achieve the smallest possible balance sheet and comprehensively reform its monetary policy implementation mechanism. Bowman stated, "Over the long term, I prefer to maintain the smallest possible balance sheet, keeping reserve balances closer to scarcity rather than abundance." Bowman believes that returning to the Fed's mechanism of actively managing its balance sheet will better reflect market stress and operational issues. Bowman stated, "Allowing moderate volatility in the money market can enhance our understanding of market clearing points." She also stated that she supports holding only Treasury bonds on the Fed's balance sheet, with a slight maturity bias towards short-term securities, rather than fully aligning with the overall market's term structure. She said this would provide the Fed with greater flexibility. Bowman added that the Fed should consider actively selling its holdings of mortgage-backed securities (MBS).
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