Soma manager predicts transition success for US reserves

US Federal Reserve
Photo: US Federal Reserve

Roberto Perli, manager of the System Open Market Account (Soma) for the Federal Reserve Board, predicts the US’s transition from abundant to ample reserves will be successful.

“Balance sheet normalisation can be accomplished without significant disruptions to short-term funding markets,” he said in a speech on October 10.

Perli said policy-makers are unsure when the US will reach ample reserves, adding that point does not appear to be on the horizon. The reserve demand curve may have even

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