NY Fed's Dudley plays down balance-sheet fears

William Dudley, the president of the New York Federal Reserve, has attempted to soothe fears that the expansion of the Fed's balance sheet could stoke inflation.

Dudley told The Economist, a weekly, that he did not think the Fed had a "significant exit problem" as it had "the ability to live with a bigger balance sheet by paying interest on excess reserves."

Dudley also stressed that a lot of the Fed's liquidity programmes were counter-cyclical. "If things get better in the markets, the progr

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