Fed's Yellen says end of asset buys won't roil market

NEW YORK (Reuters) - Federal Reserve plans to end its $600 billion bond buying program in June are priced into financial markets and should not cause a big reaction among investors, a top central bank official said on Monday.

Janet Yellen, vice chair of the Fed's Board of Governors, acknowledged that the program, known as quantitative easing, helped ease financial conditions and boost some asset prices.

But she said the market was ready for its conclusion in June, adding "I would not expect to see a significant financial market reaction to the conclusion of that program."

Yellen, answering questions after addressing the Economic Club of New York, did say an eventual move to shrink the Fed's balance sheet through asset sales would put some pressure on asset prices, but said the Fed could ease that by announcing such sales in advance and making sure they were gradual.

(Reporting by Pedro Nicolaci da Costa and Steven C. Johnson; Editing by James Dalgleish)