The Federal Reserve is willing to extend its reserve management related purchases of Treasuries to coupon-bearing securities if that is appropriate, but the central bank is not yet at that point, according to Chairman Jerome Powell.

Powell said at his post-decision news conference Wednesday that the Fed is “willing to adapt” its strategy on bill purchases. “We’re not at this place, but if it does become appropriate for us to purchase other short-term coupon securities, then we would be prepared to do that if the need arises.”

He went on to say though that the current regime of bill purchases is going well and according to expectations.

The Fed has been conducting repo operations and Treasury bill purchases in a bid to keep control of short-term interest rates and bolster bank reserves into the system. And while that has calmed markets since a September spike that took overnight repo rates as high as 10%, concerns about the year-end period remain and participants have been flocking to Fed term offerings that will carry them through to January.

Powell also said that repo operations have “gone well so far” and “pressures in money-markets in recent weeks have been subdued.”

Year-end pressures are starting to appear across major global funding markets as the world looks to the Federal Reserve for more answers about how to stem dysfunction in short-end rates.

The Fed boss said temporary upward pressures on short-term money-market rates aren’t unusual around year-end and “pressures appear manageable.”

He said the central bank stands ready to adjust details of the repo operations as appropriate to keep the fed funds rate within the target range.

The purpose of the Fed’s measures “isn’t to eliminate all volatility, particularly in the repo market,” he said. “The purpose is to ensure monetary policy decisions are transmitted to the fed funds rate.”

Powell also said he’s open to ideas for modifying supervisory practices that don’t undermine the safety and soundness of the financial system.