September 23, 2016 / 5:06 PM / 3 years ago

Fed policy is not as accommodative as people think, Kaplan says

HOUSTON (Reuters) - The Federal Reserve’s $4.5 trillion balance sheet and its decision to keep interest rates only just above zero are not delivering as much stimulus to the U.S. economy as might be thought, a top Fed official said on Friday.

That is because headwinds like an aging population are holding back U.S. and global growth, Dallas Fed chief Robert Kaplan told a Texas Oil and Gas Association meeting in Houston. “We don’t think the economy is overheating,” he said. “We are not as accommodative as people would think.”

Reporting by Ann Saphir; Editing by Meredith Mazzilli

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