According to CoinMeta, the Federal Reserve announced on Thursday that it would suspend its operations to purchase U.S. Treasury bonds for the purpose of managing bank system reserves for the next month ( rmp ), indicating that the level of bank system reserves has reached what the Fed considers an acceptable level. The New York Fed stated that during the operating cycle ending September 14, it will pause rmp purchases, but will continue to reinvest about $17 billion in maturing principal. This move shows that despite the potential pressure on market liquidity due to the increase in the U.S. government's cash balance, the Fed remains confident in the stable operation of the financing markets. The Fed emphasized that this adjustment only involves changes to the reserve management operations and does not represent a change in monetary policy stance or balance sheet strategy.