BREAKING NEWS

Fed not focused on daily ups, downs of trade deal - Williams

Fed not focused on daily ups, downs of trade deal - Williams
FILE PHOTO: John Williams, Chief Executive Officer of the Federal Reserve Bank of New York, speaks at an event in New York, U.S., November 6, 2019. REUTERS/Carlo Allegri -
Copyright
Carlo Allegri(Reuters)
Euronews logo
Text size Aa Aa

SANFRANCISCO (Reuters) – The U.S. Federal Reserve will not make policy based on day to day developments in U.S.-China trade policy or on Britain’s exit from the European Union, a U.S. central banker said on Thursday, in part because businesses do not make their decisions that way either.

“For me, it’s not about the ups and downs on a given day, or even within a given day, around negotiations whether on trade, or on Brexit or anything else, because those tend to move around quite a bit,” New York Fed President John Williams said at a conference on monetary policy and global uncertainty at the San Francisco Fed.

Monetary policy can take a year to work its way into the economy, he said, so the Fed has to take a longer view.

“Even if there’s some kind of resolution on a particular issue, I think this uncertainty factor, which we are hearing from everywhere from business people across the country, that’s unlikely to turn on a dime,” he said.

“It’s going to require some time of people thinking they have certainty around the trade environment, around the geopolitical environment, so they can make those longer-term business decisions.”

(Reporting by Ann Saphir; Editing by Chris Reese)

euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on euronews.com for a limited time.
Euronews is no longer accessible on Internet Explorer. This browser is not updated by Microsoft and does not support the last technical evolutions. We encourage you to use another browser, such as Edge, Safari, Google Chrome or Mozilla Firefox.