A top Federal Reserve official has downplayed the Chinese economic slowdown as a factor in determining U.S. monetary policy.
“I don’t see that as a significant risk to the forecast, but it is certainly a risk,” Cleveland Fed President Loretta Mester told Bloomberg in a televised interview.
“Underlying fundamentals of the U.S. economy remain very sound,” she added.
A report released by Markit and Caixin showed that their index of Chinese manufacturing activity fell to 48.2 in December from 48.6 in November. The reading below 50 indicates a continued contraction.
The material has been provided by InstaForex Company – www.instaforex.com