White House economic adviser Deese: Not surprised by the negative reaction of financial markets
|The White House economic adviser Brian Deese spoke in recent trade.
He said that he is not surprised by the negative reaction of financial markets to Britain's fiscal plans, including tax cuts, and underscored the need to maintain "fiscal prudence, fiscal discipline."
Deese was speaking at an event hosted by the Economic Club of Washington.
He added that Britain's plans during a cycle of monetary tightening had put the monetary authorities in a position of potentially having to tighten even further.
Key notes
The US is in an unprecedented transition but has confidence in the resilience of the economy.
Europe is significantly more exposed to energy price volatility, which will continue to be a tough period for UK and EU.
Asked about Britain's economic plans, says it's important to focus on fiscal prudence and discipline.
I'm fundamentally optimistic about the US economy, which can emerge stronger than before the pandemic.
Does not anticipate the need for the global accord to adjust currency values.
Asked if he will stay on for two more years, says he has no plans to leave.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.