- The Federal Reserve announced it will purchase approximately $10 billion in Treasury bills through August 13, maintaining the same pace as the previous two cycles.
- In addition to reserve management purchases, the New York Fed plans to execute approximately $17.6 billion in reinvestment purchases during the same monthly period.
- The move is designed to bolster reserve levels in anticipation of a projected liquidity drain in the coming months.
Quotes
“The Federal Reserve said Monday it will buy about $10 billion of Treasury bills this period, unchanged from the previous two cycles, as policymakers seek to bolster reserves in anticipation of a drain in the coming months.”