China, Europe slowdown’s scale to determine impact on Fed policy: Evans

Written by on March 26, 2019

Federal Reserve Bank of Chicago President Charles Evans speaks during a meeting in Madrid
Federal Reserve Bank of Chicago President Charles Evans speaks during a meeting in Madrid, Spain, March 27, 2017. REUTERS/Juan Medina

March 26, 2019

By Noah Sin

HONG KONG (Reuters) – U.S. Federal Reserve policymakers will look at the scale of the slowdown in the Chinese and European economies to determine any possible impact on Fed policy, Charlie Evans, president of the Chicago Fed, said in Hong Kong on Tuesday.

“It depends a lot on how large the slowdown would be in China, and how big the headwinds would be from European deceleration as well,” he said at an event hosted University of Chicago.

He noted recent instances where uncertainties in the two economies influenced Fed policy.

“We were about ready to start raising rates then additional uncertainty pushed us off until December 2015,” he said. “And then the uncertainty of 2016 made us wait again until end of 2016.”

Eric Rosengren, president of the Boston Fed, said at the same event policymakers are “really focused on domestic economic conditions generally in the United States,” but “to the extent that it does affect the United States, we fully take that into account.”

(Reporting by Noah Sin; Editing by Simon Cameron-Moore)

Source: OANN

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