NEW YORK Feb 19 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.