Agency: The U.S. Department of the Treasury increasing the supply of Treasury bonds may put pressure on the Federal Reserve to increase purchases.

Metlife Investment Management strategist Shan Ahmed stated in a report that the US Treasury issuing more treasury bills to fill the deficit plan could put pressure on the Federal Reserve to buy more short-term government bonds. Federal Reserve officials said that one of the central bank's goals is to align the structure of its portfolio with the structure of US Treasury securities in the market. Currently, the Federal Reserve's $4.2 trillion bond portfolio only includes $195 billion in treasury bills, about 5%. Ahmed wrote, "Increasing the use of treasury bills by the Treasury Department will further deviate the Federal Reserve's holdings structure from this goal."