NY Fed official plays down FOMC directive on asset buying

(Corrects headline and rewrites paragraph 2 and paragraph 5 (previously paragraph 4) to reflect NY Fed official was referencing the FOMC's implementation note, not its policy statement. Adds new 4th paragraph referring to the ‌new language in the policy statement.)

JERSEY CITY, New Jersey, June 24 (Reuters) - A Federal Reserve Bank ‌of New York official involved in implementing monetary policy cautioned on Wednesday against reading too much into language last week from the Federal Open Market ​Committee meeting that addressed how the central bank manages its expansive balance sheet.

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In its implementation note, released on June 17 when the FOMC met for the first time under new Chairman Kevin Warsh, instructed New York Fed officials that, "when appropriate," they should "increase the System Open Market Account holdings of securities through purchases of Treasury bills and, if needed, other Treasury securities with remaining maturities ‌of 3 years or less to mainta

Fuente original: Yahoo Finance (https://finance.yahoo.com/economy/policy/articles/ny-fed-official-plays-down-223314794.html)