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Reuters
Fed’s Bowman: Would have backed waiting to taper balance sheet run-off
Bowman, in remarks prepared for delivery to a Bank of Japan conference in Tokyo, said she believes commercial bank reserve levels at the Fed remain abundant, giving officials more time to proceed with the $95 billion-a-month run-off target that has been in place since mid-2022. “While it is important to slow the pace of balance sheet runoff as reserves approach ample levels, in my view we are not yet at that point,” she said, especially with still-sizable take-up…