Catching up on Open Market Operations? The 2018 SOMA Annual Report and New Data Interactive Has You Covered
The New York Fed today released the 2018 annual report of the System Open Market Account (SOMA). Issued to the Federal Open Market Committee (FOMC) for much of the Fed’s history, this report provides a review of open market operations conducted by the Open Market Trading Desk (the Desk), other developments that influenced the Fed’s portfolio of domestic securities, and developments in the Fed’s foreign operations. The SOMA represents the largest asset on the Fed’s balance sheet.
Five Takeaways from Simon Potter’s Speech on Normalizing Monetary Policy
This morning, New York Fed EVP Simon Potter, who heads the Markets Group, spoke at a conference in Paris, France. The remarks, titled “U.S. Monetary Policy Normalization is Proceeding Smoothly,” were delivered at “Exiting Unconventional Monetary Policies,” a conference co-hosted by the Euro 50 Group, CIGI, and the China Finance 40 Forum.
Five Takeaways from President Williams’s Speech on Monetary Policy and Global Impacts
On Wednesday, October 10, New York Fed President John Williams delivered keynote remarks at a conference in Indonesia. The speech, titled “Moving Toward ‘Normal’ U.S. Monetary Policy,” came at the Joint Bank Indonesia-Federal Reserve Bank of New York Central Banking Forum.
Central Bankers and Balance Sheets
Earlier this month at the New York Fed, we co-hosted a conference with Trish Mosser of Columbia’s School of International and Public Affairs on normalizing central banks’ balance sheets. This was the second workshop we’ve done, and we had current and former central bankers, academics, market participants, and the press in attendance. While last year we focused on what had been learned about implementing monetary policy following the crisis, this year we focused on what the “new normal” might be for central banks’ balance sheets. For those interested in learning more about what was discussed, the presentations from the event are now available on our website.
What Might the Fed’s Balance Sheet Look Like in the Future?
In recent months, there has been a lot of discussion around the normalization of the Federal Reserve’s balance sheet. As policymakers continue their discussion of potential reductions in the Fed’s securities holdings, questions frequently arise on what the balance sheet might look like in the future. In particular: How big will it be?