Fed Chair Nominee Waller: More inclined to use interest rates as the primary tool, and to gradually and cautiously reduce the balance sheet

ME News Report, April 22 (UTC+8), Fed Chair Nominee Waller: Overall, the current economy is close to full employment. The Federal Reserve’s balance sheet has played an adverse role in achieving its dual mandate. It is more inclined to view interest rates as the dominant force. If we cut rates, more people will benefit. The balance sheet needs to be reduced gradually and cautiously. The large balance sheet is a reason for the Fed’s involvement in politics. The Fed needs to step back from fiscal affairs. It is working with the Treasury Secretary to advance the reduction of the Fed’s balance sheet. Too many Fed officials have spoken prematurely about interest rates. (Source: PANews)