Cuando normalice política monetaria, Fed no venderá títulos hipotecarios

Genevieve Signoret & Patrick Signoret

Esto lo anunció Ben Bernanke en su conferencia de prensa del miércoles. Entendemos que sí permitirá que el acervo de estos títulos (mortgage-backed securities, MBS, en inglés) disminuya pasivamente; es decir, a medida que los títulos vayan madurando.

While participants continue to think that, in the long run, the Federal Reserve’s portfolio should consist predominantly of Treasury securities, a strong majority now expects that the Committee will not sell agency mortgage-backed securities during the process of normalizing monetary policy, although in the longer run limited sales could be used to reduce or eliminate residual MBS holdings.