WASHINGTON, June 14 (Reuters) - Federal Reserve Chairman Jerome Powell said on Wednesday that it looks like the central bank will be able to continue to shrink its balance sheet on its current path likely through the remainder of the year.
Speaking at his press conference following the close of the meeting of the Fed's policy-setting Federal Open Market Committee, Powell said, "We don’t think reserves are likely to become scarce in the near term or even over the course of the year," suggesting that the Fed can continue to shed just under $100 billion per month in bonds from its holdings. Powell also said he sees no reason right now to tinker with the settings of the Fed's reverse repo facility to move some of that money out into the broader financial system. (Reporting by Michael S. Derby; Editing by Leslie Adler)
