February 20, 2019 / 8:33 PM / in a month

Fed's Clarida says lack of data still clouds U.S. economic forecast

NEW YORK (Reuters) - It is not clear how much of growth slowdown the United States is currently seeing, in part because of incomplete data following the U.S government shutdown, Fed Vice Chairman Richard Clarida said in a television interview aired on Wednesday.

Asked about when the Fed would end its policy of running down its balance sheet, Clarida told CNN that some external estimates say the process could end when bank reserves held by the central bank fall to between $1 trillion and $1.2 trillion. He did not offer his own estimate.

New York Fed President John Williams on Tuesday estimated the so-called balance sheet rundown could end when bank reserves get to “maybe $1 trillion of reserves or somewhat more than that,” about $600 billion less than current levels.

Reporting by Trevor Hunnicutt; Editing by Chizu Nomiyama

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