Caus­tic re­marks

Times of Oman - - MARKE -

The Fed has also been at the re­ceiv­ing end of crit­i­cism from Pres­i­dent Don­ald Trump, who on Thurs­day called its in­ter­est rate in­creases a “ridicu­lous” pol­icy.

Those sur­pris­ingly caus­tic re­marks came a day af­ter the pres­i­dent told re­porters, in re­sponse to a Wall Street rout, that the “Fed has gone crazy.”

“If you look around the world, I think the Asian re­gion as a whole is rea­son­ably strong rel­a­tive to cer­tain ar­eas in the past,” Quar­les said, re­spond­ing to a ques­tion on the re­gion’s ca­pac­ity to with­stand in­ter­est rate shocks.

“We do con­sider” the im­pli­ca­tion of US mone­tary pol­icy on emerg­ing mar­kets and the rest of the world, he said at the an­nual meet­ing of the In­sti­tute of In­ter­na­tional Fi­nance on the In­done­sian re­sort is­land of Bali.

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