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Fed's Hammack sees more runway for Fed balance sheet cuts

Reuters
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Cleveland Fed President Beth Hammack spoke at length on her views on the Fed 's balance sheet.

Hammack: "This is not a good time to be preemptive" with monetary policy.

The Fed last month decided to substantially slow the ongoing drawdown of its holdings of Treasury and mortgage bonds.

The contraction process has brought the balance sheet down to $6.8 trillion .