Artwork

Content provided by David Beckworth and Mercatus Center at George Mason University. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by David Beckworth and Mercatus Center at George Mason University or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.
Player FM - Podcast App
Go offline with the Player FM app!

Roberto Perli on the Past, Present, and Future of the Fed’s Balance Sheet

50:25
 
Share
 

Manage episode 419146883 series 166390
Content provided by David Beckworth and Mercatus Center at George Mason University. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by David Beckworth and Mercatus Center at George Mason University or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.

Roberto Perli is the manager of the System Open Market Account (SOMA) and a senior leader in the New York Fed’s Markets Group. In his role, Roberto is responsible for implementing monetary policy at the direction of the Federal Open Market Committee (FOMC). Roberto is also a returning guest to the podcast, and he rejoins Macro Musings to talk about a recent speech he made titled, *Balance Sheet Reduction: Progress to Date and a Look Ahead.* Specifically, David and Roberto discuss the Fed’s recent balance sheet activities, the basics and functionality of the overnight reverse repo facility, the importance of slowing down the Fed’s balance sheet runoff, and much more.

Transcript for this week’s episode.

Roberto’s NY Fed profile

Roberto’s Twitter: @R_Perli

David Beckworth’s Twitter: @DavidBeckworth

Follow us on Twitter: @Macro_Musings

Check out our new AI chatbot: the Macro Musebot!

Join the new Macro Musings Discord server!

Join the Macro Musings mailing list!

Check out our Macro Musings merch!

Related Links:

*Balance Sheet Reduction: Progress to Date and a Look Ahead* - Remarks by Roberto Perli at the 2024 Annual Primary Dealer Meeting, Federal Reserve Bank of New York

Timestamps:

(00:00:00) – Intro

(00:04:49) – Breaking Down the Role of SOMA Manager

(00:08:43) – Recapping the Fed’s Balance Sheet Activities

(00:11:04) – How to Think About Quantitative Tightening

(00:13:19) – Breaking Down the Overnight Reverse Repo Facility

(00:20:42) – Slowing Down the Runoff and the Future of QT

(00:26:48) – How to Determine the Critical Level of Reserves

(00:33:03) – The Structural Demand for Bank Reserves Over Time

(00:38:55) – The Advantages of the Floor Operating System

(00:47:49) – Reserve Supply Focus Moving Forward

(00:49:44) – Outro

  continue reading

450 episodes

Artwork
iconShare
 
Manage episode 419146883 series 166390
Content provided by David Beckworth and Mercatus Center at George Mason University. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by David Beckworth and Mercatus Center at George Mason University or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.

Roberto Perli is the manager of the System Open Market Account (SOMA) and a senior leader in the New York Fed’s Markets Group. In his role, Roberto is responsible for implementing monetary policy at the direction of the Federal Open Market Committee (FOMC). Roberto is also a returning guest to the podcast, and he rejoins Macro Musings to talk about a recent speech he made titled, *Balance Sheet Reduction: Progress to Date and a Look Ahead.* Specifically, David and Roberto discuss the Fed’s recent balance sheet activities, the basics and functionality of the overnight reverse repo facility, the importance of slowing down the Fed’s balance sheet runoff, and much more.

Transcript for this week’s episode.

Roberto’s NY Fed profile

Roberto’s Twitter: @R_Perli

David Beckworth’s Twitter: @DavidBeckworth

Follow us on Twitter: @Macro_Musings

Check out our new AI chatbot: the Macro Musebot!

Join the new Macro Musings Discord server!

Join the Macro Musings mailing list!

Check out our Macro Musings merch!

Related Links:

*Balance Sheet Reduction: Progress to Date and a Look Ahead* - Remarks by Roberto Perli at the 2024 Annual Primary Dealer Meeting, Federal Reserve Bank of New York

Timestamps:

(00:00:00) – Intro

(00:04:49) – Breaking Down the Role of SOMA Manager

(00:08:43) – Recapping the Fed’s Balance Sheet Activities

(00:11:04) – How to Think About Quantitative Tightening

(00:13:19) – Breaking Down the Overnight Reverse Repo Facility

(00:20:42) – Slowing Down the Runoff and the Future of QT

(00:26:48) – How to Determine the Critical Level of Reserves

(00:33:03) – The Structural Demand for Bank Reserves Over Time

(00:38:55) – The Advantages of the Floor Operating System

(00:47:49) – Reserve Supply Focus Moving Forward

(00:49:44) – Outro

  continue reading

450 episodes

All episodes

×
 
Loading …

Welcome to Player FM!

Player FM is scanning the web for high-quality podcasts for you to enjoy right now. It's the best podcast app and works on Android, iPhone, and the web. Signup to sync subscriptions across devices.

 

Quick Reference Guide