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New York Fed System Open Market Account Manager Perli said the Fed's monetary policy control toolbox continues to be very effective. "We have maintained very strong rate control, kept reserves in the ample range, and our Treasury bill purchases have also run smoothly," Perli said. He also said the Fed's recent actions to add liquidity to the financial system, currently paused, were not a preset path, suggesting the Fed could buy Treasury bills again if it deems it necessary to boost market liquidity. He also said so-called reserve management purchases (RMP) of Treasury bills will be adjusted according to market liquidity needs.