FED_SPEECH · May 14, 2026 · 12:00 ET
Fed Speech · Barr
Released
Fed Speech · Barr is scheduled for May 14, 2026 at 12:00 ET. The actual figure appears here after the official release.
About this release
Fed governors and regional presidents speak at conferences and testimony. Because policy runs on expectations, these remarks are the committee’s expectation-management channel between meetings.
Between meetings, Fed officials steer expectations through speeches — the chair and voting members can move markets mid-sentence.
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What the statement says
Dovish: Barr explicitly opposes balance sheet reduction, calling it 'the wrong objective', and advocates maintaining ample reserves to safeguard financial stability
- Barr states outright that 'shrinking the balance sheet is the wrong objective' and warns that many proposed balance sheet reduction measures would 'actually increase the Fed's footprint in financial markets'
- Explicitly endorses the current 'ample-reserves regime', citing reserves as 'the safest and most liquid asset in the financial system' and essential for bank resilience, payment system efficiency, and financial stability
- Opposes reducing reserve demand by weakening liquidity regulations (e.g., LCR), noting that 'the bank stresses of 2023 suggest that liquidity requirements should go up and not down'
- Warns that operating with 'minimally ample reserves' would heighten market volatility, impair rate control, and necessitate more frequent use of standing facilities (e.g., overnight reverse repo, discount window)—a form of larger footprint
- Distinguishes balance sheet 'duration' from 'size' as separate issues; notes that much of the current longer-term asset portfolio was accumulated during the COVID-19 crisis and that the Fed is 'reducing our MBS holdings carefully and gradually'
AI-generated summary of the official text. The official statement is authoritative. Not investment advice.
Figures as published by the official source, which is authoritative. Not investment advice.