Fed official told me that, with inflation now at acceptable levels, the Fed feels no need for additional easing measures.However, he also added that the Fed would not hesitate to act if inflation resumed falling. Fed officials are now fully aware of the risks posed by a balance sheet recession and actually used the term on several occasions during our talks. This stands in sharp contrast to the situation in the eurozone where the officials are unaware of the concept and the risk of balance sheet recession. And to that extent I think the US economy is at less risk of a downturn than the eurozone.