Federal Reserve System (FRS) the USA has the tools necessary in order to prevent the acceleration of inflation in the country, said President of the Federal Reserve Bank (FRB) of New York, William Dudley, reports Bloomberg.

According to him, the U.S. Central Bank is no need to start to reduce your balance.

Fed, seeking to prop up the economy and unlock the credit markets, has created a number of programs and emergency financing, in connection with this, increased its assets doubled in the past year - up more than $ 2 trillion.

Dudley believes that it is too early to talk about reducing the amount of aid markets.

Obviously, since the conditions in the financial sector are improving, the situation in the economy adjusted, it is necessary to consider what to do with the programs purchase assets - Dudley said in an interview with CNBC Television. - Confidence in the need to reject these measures is a bit premature, because the rate of economic growth are not too fast, and the unemployment rate is very high.

Last week, the Richmond Fed President Jeffrey Leker and the FBI in St. Louis, James Bullard said that the Fed may not need to implement the full program of redemption of debt secured by mortgage volume of $ 1.25 trillion.

Program purchase of assets, guaranteed by Fannie Mae, Freddie Mac and Ginnie Mae, is intended to ease tensions on the U.S. housing market. The Fed is also implementing a plan of redemption of debt of $ 300 billion volume

One of the consequences of credit programs has been a significant increase in the reserves of banks in the U.S. Central Bank. According to Dudley, these reserves can be derived from the system before their use will help to increase lending and accelerating inflation.

I believe that the Fed has the tools to manage their balance sheet, so we do not face a negative outcome in terms of inflation - he said. - Banks receive from the Central Bank interest rate for excess reserves at the Fed. They do not use these funds for lending. Thus, the cycle in which excess reserves are a credit boom and overheating of the economy, there is no .

Many of the Fed's lending programs tailored to ensure that they could stop the action at the restoration of private lending, says Dudley.

While the signals that the Fed's actions have provoked inflation, absent. Consumer prices in the U.S. in July, unchanged from the previous month and fell by 2,1% on an annualized basis, that is the most significant drop since 1950.

According to Dudley, the Fed is far from being able to plan the refusal of extraordinary programs to support the economy.

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