Fed’s Perli Says T-Bill Purchases Can Be Adjusted Up or Down

Federal Reserve Bank of New York’s Roberto Perli said the central bank’s monthly Treasury bill purchases are not on a pre-determined course and can be adjusted depending on market conditions.

Perli said he and his colleagues on the Fed’s System Open Market Account, which he runs, “stand ready” to adjust the pace of reserve-management purchases “up or down as necessary to maintain reserves within the ample range.”

Roberto Perli

Photographer: Nitashia Johnson/Bloomberg

That decision will be guided by forecasts for the supply of bank reserves, comments from market participants and overall money market conditions, Perli said Tuesday in prepared remarks for a conference organized ...