Opinion
Opinion

No Return to the Old Balance Sheet, Fed’s Waller Says

No Return to the Old Balance Sheet, Fed’s Waller Says
Interior of the Federal Reserve board room in the Marriner S. Eccles building in a file photo. Federal Reserve, Public Domain
Nicolás Cachanosky
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Commentary
Federal Reserve Governor Christopher Waller recently offered his perspective on the Fed’s balance sheet, which still stands at over $6.6 trillion. According to Waller, the issue facing the central bank is not the size of the Fed’s balance sheet but the structure of its assets—especially their duration. It’s a compelling case, and it deserves a second look.
Nicolás Cachanosky
Nicolás Cachanosky
Author
Nicolás Cachanosky is associate professor of economics and director of the Center for Free Enterprise at The University of Texas at El Paso, senior fellow at the American Institute of Economic Research (AIER), and fellow of the UCEMA Friedman-Hayek Center for the Study of a Free Society. Cachanosky also serves as associate editor of the Southern Economic Journal. He is past president of the Association of Private Enterprise Education (APEE) and former director of The Mont Pelerin Society (MPS).
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