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