Fed Halts Reserve Management Purchases After Tapering to $10 Billion

TD Securities analysts Gennadiy Goldberg and Molly Brooks have published a note on the Federal Reserve's decision to halt Reserve Management Purchases (RMP).

The RMP program had previously been tapered from $40bn to $10bn before the pause.

The note examines what the RMP pause means for reserve management and for the timing of quantitative tightening (QT).