Powell Says Fed Balance-Sheet Process to Be Transparent and Smooth

The transcript outlines a plan to slow the runoff of assets starting in May and cease it by September. Reserve balances may remain above the required level, and asset holdings will be kept constant for a time. Gradual increases in currency and liabilities will lead to a slow decline in reserve balances. Once reserves stabilize, securities holdings will rise based on demand. The committee will address remaining normalization topics, focusing on a portfolio mainly of Treasury securities.

What are the committee's plans regarding the maturity composition of the portfolio?

What is the long-stated intention of the committee concerning treasury securities?