They are at least understanding the current effect of volatility in the Treasury General Account causing fluctuation in Reserve Asset levels at the depositories...
Though not yet mentioning the effect this same volatility is causing in other depository system regulatory ratios... I guess they might say "not their job"...
“Money market rates generally stabilized at modestly lower levels over the intermeeting period, likely re- flecting both the technical adjustment in the interest on excess reserves (IOER) rate following the May FOMC meeting and a sizable increase in reserve balances associated with a decline in balances held by the Treasury in its account at the Federal Reserve...
We have posted the minutes from the #FOMC meeting held June 18-19, 2019: https://t.co/iRAKW2FuiK— Federal Reserve (@federalreserve) July 10, 2019
