Fed moves' full steam ahead '

According to BlockBeats, Aug. 30, the Federal Reserve will step up its balance-sheet reduction this week, which means it will start selling off the Treasury bills it started accumulating nearly three years ago. Under its balance-sheet reduction plan, the Fed will increase the monthly limit on maturing Treasury bonds and mortgage-backed securities to $60bn and $35bn, respectively, while using its $326bn Treasury holdings to supplement coupon maturities when they fall below the monthly limit. Treasury holdings will be cut for the first time in September as the coupon size falls below the new monthly limit. The Fed has $43.6 billion of Treasury securities maturing in its portfolio in September, meaning it needs to reduce its Treasury holdings by another $16.4 billion. It cut its holdings by another $13.6 billion in October. This would be the largest reduction until September 2023. The (golden) ten