21:57
Perli from the New York Fed says the Federal Reserve will start purchasing assets soon.
Golden Finance reports that Roberto Perli of the New York Federal Reserve Bank stated that the rise in overnight financing costs indicates that bank reserves are no longer sufficient. The Federal Reserve will "not be long" before purchasing assets to maintain an ideal level of liquidity. Perli said in a speech prepared for a conference co-hosted by the New York Fed on Wednesday that several indicators, including rising money market rates, "strongly suggest that reserves are no longer ample." Perli is responsible for the Federal Reserve's securities investment portfolio, known as the System Open Market Account (SOMA).
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