Federal Reserve's Kaplan has said that that Fed has come to the conclusion that the system needs more reserves than the US has.

More comments:

  • The US is consumer is strong and sees growth about 2% this year.
  • Concerned that the manufacturing slowdown will intensify.
  • Job at the Fed is to make sure to avert a slowdown.
  • Program to buy treasury bills not related to monetary policy.
  • US economy is mixed.