Cen banks will provide less support in future downturns

LONDON, June 12 (Reuters) – Central banks will provide less policy support in economic downturns than they have done previously, former Federal Reserve vice chair Richard Clarida said at an event on Monday.

“We think we’re going to be in a world in which, at the margin, there’s probably going to be less policy support provided in economic downturns than we’ve seen… We’re seeing some early evidence of what we call (quantitative easing) fatigue,” Clarida, now an economic advisor at PIMCO, said at a press event organised by the asset manager. (Reporting by Harry Robertson, writing by Yoruk Bahceli; editing by Dhara Ranasinghe)