MINNEAPOLIS, May 21 (Reuters) - The U.S. Federal Reserve is not poised to unveil a revised “exit strategy” for returning to a normal policy stance and shrinking its massive balance sheet, Minneapolis Fed President Narayana Kocherlakota said on Wednesday.
“This is all about prudent planning for normalization, for exit,” he told reporters when asked about minutes of the Fed’s April policy-setting meeting, which were released on Wednesday. “People shouldn’t be thinking that at the next meeting this is all coming down the pike.”
The last so-called exit strategy - which listed steps the Fed planned to take to return to normal - were published in June 2011, “and we’re not there yet,” Kocherlakota added. (Reporting by Jonathan Spicer; Editing by Chizu Nomiyama)