Appropriate to refresh U.S. Fed's longer-term 'exit strategy': Williams

NEW YORK Wed Feb 19, 2014 9:19pm EST

John Williams, president and chief executive of the Federal Reserve Bank of San Francisco, takes part in a panel discussion titled ''U.S. Overview: Is the Recovery Sustainable'' at the Milken Institute Global Conference in Beverly Hills, California May 1, 2012. REUTERS/Danny Moloshok

John Williams, president and chief executive of the Federal Reserve Bank of San Francisco, takes part in a panel discussion titled ''U.S. Overview: Is the Recovery Sustainable'' at the Milken Institute Global Conference in Beverly Hills, California May 1, 2012.

Credit: Reuters/Danny Moloshok

NEW YORK (Reuters) - The U.S. Federal Reserve should update its longer-term "exit strategy" for winding down its swollen balance sheet to reflect changes in the plan since it was published in 2011, a top Fed policymaker said on Wednesday.

San Francisco Fed President John Williams, asked about updating the strategy by reporters, said, "When the world changes, we have changed our plan in an appropriate way." He also noted that the Fed has made clear, for example, that it does not intend to sell any of the assets it has bought until perhaps "later on" as it looks to shrink the balance sheet.

(Reporting by Jonathan Spicer; Editing by Lisa Shumaker)

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Comments (2)
FTCAIN wrote:
These Keynesian morons that think there is never a need to stop injecting funds to prop up the housing and investor markets, know that when the FED stops the markets will find their true value and crash downward. Which proves their unsustainable and inflationary fiscal policies do not work, never have and never will.

Feb 19, 2014 8:30pm EST  --  Report as abuse
FTCAIN wrote:
These Keynesian morons that think there is never a need to stop injecting funds to prop up the housing and investor markets, know that when the FED stops the markets will find their true value and crash downward. Which proves their unsustainable and inflationary fiscal policies do not work, never have and never will.

Feb 19, 2014 8:30pm EST  --  Report as abuse
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