Perli of the New York Fed said that it won't be long before the Fed starts buying assets.

Roberto Perli of the New York Federal Reserve Bank indicated that the increase in overnight funding costs suggests that bank reserves are no longer ample, and the Federal Reserve will "soon" purchase assets to maintain the desired level of liquidity. Perli, who is responsible for the Federal Reserve's securities investment portfolio, made these comments in a speech prepared for a conference co-hosted by the New York Fed on Wednesday, stating that several indicators, including the rise in money market rates, "strongly suggest that reserves are no longer ample."