Federal Reserve Governor Waller: I don't think it's necessary to adopt a reserve scarcity system at all. If a way can be found to eliminate the need for banks to hold high reserves, then there is no obstacle to reducing balance sheets accordingly.

Federal Reserve Governor Waller: I don't think it's necessary to adopt a reserve scarcity system at all. If a way can be found to eliminate the need for banks to hold high reserves, then there is no obstacle to reducing balance sheets accordingly.