Dallas Fed Governor Kaplan said large-scale bond purchases have led to excessive risk taking and that the Federal Reserve should immediately begin tapering asset purchases. rice field.
“I would support adjusting these purchases soon, but once the adjustment process has begun, it’s a slower pace,” Kaplan said in an interview on Bloomberg’s podcast “Odd Lots.” Is probably preferable. “
Although Kaplan didn’t mention a specific start date, financial authorities bought US Treasuries and mortgage-backed securities (MBS) for $ 10 billion and $ 5 billion each month, respectively. He said the purchase should be terminated in eight months. With current monthly purchases of $ 80 billion in US Treasuries and $ 40 billion in MBS, the Governor’s proposal means reducing US Treasury and MBS purchases in parallel at an equal pace.
Some officials have argued that MBS purchase cuts should be started first in light of rising home prices, or that purchases should be reduced at a faster pace.
news-rsf-original-reference paywall">Original title:
Fed’s Kaplan Calls for Gradual, Balanced Tapering Starting Soon（抜粋）
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