Walsh: Fed's Balance Sheet Too Large, Will Collaborate with Treasury to Reduce It

On April 21, Fed Chair nominee Walsh stated that he still hopes to reduce the size of the Federal Reserve’s balance sheet and will work with the Treasury Secretary to achieve this goal. Walsh told senators, “The large balance sheet has become a common and recurring phenomenon, and it is of no benefit, which is also part of the reason the Fed is involved in political affairs. I believe we need a smaller Federal Reserve balance sheet. Together with the Treasury Secretary, we will find a way to reduce the size of the balance sheet.”