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Fed's Dudley says to normalise balance sheet in "very careful way"
May 11, 2017 / 11:17 AM / 7 months ago

Fed's Dudley says to normalise balance sheet in "very careful way"

MUMBAI (Reuters) - New York Federal Reserve President William Dudley said on Thursday the U.S. central bank will normalise its balance sheet in a “very careful way”, while leaving “sufficient” excess reserves in the financial system.

William C. Dudley, President and Chief Executive Officer of the Federal Reserve Bank of New York speaks during a panel discussion at The Bank of England in London, Britain, March 21, 2017. REUTERS/Kirsty Wigglesworth/Pool/Files

Dudley, in a speech in Mumbai, also told the audience not to expect any “dramatic change” in monetary policy in the United States.

The comments largely hewed to his previous stance on the subject and came in answers to questions from the audience after Dudley delivered a speech calling trade protectionism a “dead end”.

Reporting by Suvashree Dey Choudhury

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