MINNEAPOLIS, March 31 Minneapolis Federal
Reserve Bank President Neel Kashkari said Friday that
policymakers at the U.S. central bank want to shrink the Fed's
massive balance sheet.
"There is interest among FOMC members to start to shrink the
balance sheet in a gradual and predictable way," Kashkari said
at a banking conference in Minneapolis, referring to the Federal
Open Market Committee, which makes the Fed's monetary policy
decisions. He added that the U.S. economy is still coming up
short on both inflation and employment, so "there's no reason to
hurry up and raise rates."
Kashkari was the lone dissenter this month on the Fed's
decision to raise the U.S. short-term borrowing rate target a
quarter of a percentage point, the third increase since the
(Reporting by Ann Saphir; Editing by Chizu Nomiyama)