The Federal Reserve released its semi-annual monetary policy report, which mentioned that the Federal Reserve continues to reduce its holdings of US Treasury bonds and agency securities significantly in a predictable manner. Since June 2024, the Federal Reserve has reduced its holdings of US $297 billion securities, and since the start of the balance sheet reduction, its holdings of securities have been reduced by about $2 trillion. The FOMC (FOMC) said it intends to maintain securities holdings at levels consistent with the efficient implementation of monetary policy under an adequate reserve system. To ensure a smooth transition, the FOMC slowed the decline in securities holdings in June 2024 and intends to stop reducing securities holdings when reserve balances are slightly higher than they believe are consistent with adequate reserves.