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Fed Minutes Reveal New York Fed Soma Chief Says Balance Sheet Drawdown Expected To Finish By February 2026, Changed From January 2026 In Earlier Survey. || Fed Minutes Show Expectations Of $6.2 Trillion Portfolio, Reserves At $2.9 Trillion 📊💰
FED MINUTES REVEAL THAT, ACCORDING TO THE NEW YORK FED SOMA CHIEF, SURVEY RESPONDENTS EXPECT THE FED'S PORTFOLIO TO BE AROUND $6.2 TRILLION (20% OF GDP), WITH RESERVES AT $2.9 TRILLION AND A LOW ONRRP BALANCE.
ACCORDING TO THE FED MINUTES, THE NEW YORK FED SOMA CHIEF REPORTED THAT MARKET PARTICIPANTS NOW EXPECT THE BALANCE SHEET DRAWDOWN TO END BY FEBRUARY 2026, A SHIFT FROM JANUARY 2026 IN THE PREVIOUS SURVEY.
Minutes of the Federal Open Market Committee’s June meeting show the New York Fed’s System Open Market Account chief told policymakers that market participants now expect the U.S. central bank to conclude its balance-sheet runoff in February 2026, a one-month postponement from the January 2026 date cited in the prior survey. Respondents to the New York Fed survey also anticipate the Federal Reserve’s securities portfolio will stand at about $6.2 trillion—equivalent to roughly 20 percent of gross domestic product—when the runoff ends. Bank reserves are projected to stabilize near $2.9 trillion, while balances in the overnight reverse-repo facility are expected to be minimal.
