Scott Bessent: “It is very difficult to get to a much smaller [Fed] balance…”

“I've talked a Lot about the Fed's balance sheet, probably written 20,000 words on the Fed in the past 10 years and the regime there and now plentiful reserves. It is very difficult to get to a much smaller [Fed] balance sheet from here. It's also the size of the balance sheet. Pre gfc, we all forget that there were very different banking regulations.” (13:27–13:33)

This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.