Central Banks

Wednesday, March 20, 2019 - 15:07

Powell Excerpt: Sees Balance Sheet Just Above $3.5tn End 2019


WASHINGTON (MN) - The following is a response of Federal Reserve Chairman Jerome Powell to a question from a reporter at his press conference following Wednesday's Federal Open Market Committee meeting.

Question: On the size of the balance sheet, do you have a numerical estimate for where it will be at the end of September once the runoff is complete?

Powell: In terms of the size of the balance sheet, the balance sheet will be of a size of approximately 17 percent of GDP, around the end of this year, down from 25 percent of GDP at the end of 2014. So significantly smaller relative to GDP than it was. I'm guessing you are looking for a dollar number though probably, and that would be so for the size of the balance sheet, it looks like it will be a bit above 3.5 trillion then.

--MNI Washington Bureau; +1 (973) 494-2611; email: harrison.clarke@marketnews.com

[TOPICS: MMUFE$,M$U$$$]

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