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Powell: The pressure in the money market requires an immediate adjustment to balance sheet operations.
Golden Finance reports that Fed Chairman Powell stated that pressures in the money market require an immediate adjustment to balance sheet operations; the next phase of the balance sheet will begin in December, and stability will be maintained in the short term; there are “clear signs” that it is time to stop quantitative tightening; the reinvestment strategy will make the weighted average maturity closer to the outstanding securities stock.