Fed's Powell says there's still no shortage of market liquidity

By Michael S. Derby

NEW YORK, Feb 11 (Reuters) - Federal Reserve Chair Jerome Powell said Tuesday the U.S. central bank faces no current roadblocks to pressing forward with its balance sheet drawdown efforts.

"The most recent data and the feel of markets is that reserves are still abundant," Powell told a Senate panel, adding "we think we are meaningfully above" the level where liquidity is scarce enough to stop the balance sheet drawdown.

Powell also noted "I can't give you an exact number" about the level of liquidity that would stop the quantitative tightening process.