Federal Reserve press conference, 2021-06-16 — Chair Jerome Powell

Question (Michael Derby, Wall Street Journal): Yeah, I mean, the change in the rate control toolkit, will that have any impact on—do you think that will reduce the, the amount of money coming into reverse repos? Will that have any impact on money market conditions that, you know, beyond the fed funds rate setting?
Answer: It could have some impact. I think we’ll have to see empirically. But it’s designed to keep the federal funds rate, you know, within the range. And I do think it could have some effect on, on broader money market conditions below as it relates to, you know, the very low rates and the downward pressures.