--- title: "BREAKINGVIEWS-Supersized Fed will outlive zombie monetarism" description: "The Federal Reserve announced it will buy $40 billion of Treasury bills to manage liquidity in the money market. This move aims to address short-term demand fluctuations. Despite concerns over the Fed" type: "news" locale: "en" url: "https://longbridge.com/en/news/269990991.md" published_at: "2025-12-17T09:58:22.000Z" --- # BREAKINGVIEWS-Supersized Fed will outlive zombie monetarism > The Federal Reserve announced it will buy $40 billion of Treasury bills to manage liquidity in the money market. This move aims to address short-term demand fluctuations. Despite concerns over the Fed's large balance sheet, historical failures suggest reducing it could be risky. (The author is a Reuters Breakingviews columnist. The opinions expressed are his own.) By Jon Sindreu LONDON, Dec 17 (Reuters Breakingviews) - The central bank will buy $40 bln of Treasury bills. Many officials, including some who may soon lead the institution, dislike its bloated balance sheet which keeps the market flooded with $3 trln of liquidity. But failed 1980s experiments suggest shrinkage could court disaster. Full view will be published shortly. Follow Jon Sindreu on X and LinkedIn. ### CONTEXT NEWS The Federal Reserve announced on December 10 that it would perform “reserve management purchases” of Treasury bills in the secondary market. The central bank’s aim is to inject enough liquidity in the money market to keep up with demand, accounting for short-term swings around holidays and tax payment dates. The first round of RMPs, which will buy paper worth roughly $40 billion, started on December 12. (Editing by Peter Thal Larsen; Production by Streisand Neto) ## Related News & Research | Title | Description | URL | |-------|-------------|-----| | 如何理解央行买卖国债常态化? | 国联民生证券认为,央行国债买卖转向常态化,旨在开辟基础货币投放新渠道并调控长端利率。目前我国央行持债比例远低于美日,增持空间大。同时,2025 年四季度贷款利率降幅显著收窄,显示银行息差压力缓解,预计短期内降准降息概率降低。中期 “资产荒” | [Link](https://longbridge.com/en/news/275583301.md) | | 华尔街怎么看 1 月非农就业?首次降息延至 7 月,“新美联储通讯社” 预计降息暂停期更久 | 1 月非农就业报告可能强化美联储的观望态度,使联储官员难以找到劳动力市场疲软的理由推动进一步降息,为担忧通胀的 “鹰派” 提供更多弹药。强劲的就业数据降低了美联储在年中前降息的必要性,但并未完全排除今年降息的可能。多家机构仍预计今年将有两次 | [Link](https://longbridge.com/en/news/275655607.md) | | 监管压力松绑,基调转变!美联储将放宽对银行修复缺陷的要求 | 美联储已向银行业发出信号,计划放弃此前向部分银行发出的某些警告。本月稍早,美联储通知全美多家银行,审查人员将开始对尚未解决的警告进行复查。若相关警告与美联储最新监管重点不一致——该重点要求审查人员更多聚焦对银行财务健康构成直接风险的问题,而 | [Link](https://longbridge.com/en/news/275661178.md) | | 米兰辞去白宫职位留任美联储,市场预期沃什接任 | 美联储理事米兰正式辞去白宫经济顾问职务,结束争议性的双重任职,缓解市场对美联储独立性的担忧。米兰表示继续留任美联储,直至继任者确认。特朗普上周宣布计划提名沃什担任美联储主席,市场预期沃什将被任命至米兰的席位。 | [Link](https://longbridge.com/en/news/274746567.md) | | 沃什力挺,影响深远!时隔 75 年,美联储又要和美国财政部达成协议了? | 据报道,协议核心内容包括:明确美联储资产负债表规模,配合财政部发债计划;将持仓从长期债券转向短期国库券;财政部长贝森特支持限制量化宽松使用。此举可能影响 30 万亿美元国债市场,但引发市场对央行独立性丧失、通胀预期上升及美元吸引力下降的担忧 | [Link](https://longbridge.com/en/news/275248087.md) | --- > **Disclaimer**: This article is for reference only and does not constitute any investment advice.