The White House economic adviser, brian deesehas commented on the recent movements in the financial markets.
Deese said that he is not surprised by the negative reaction of the financial markets to the British fiscal plansincluding tax cuts, and has underlined the need to maintain “fiscal prudence and discipline”.
Deese spoke at an event organized by the Economic Club of Washington.
has added that Britain’s plans for a monetary tightening cycle had put the monetary authorities in a position of having to tighten further.
Key comments
The United States is in an unprecedented transitionbut trusts the resistance of the economy.
Europe is much more exposed to volatility in energy priceswhich will continue to be a difficult period for the UK and the EU.
Asked about Britain’s economic plans, he says that it is important to focus on prudence and fiscal discipline.
I am fundamentally optimistic about the US economy, which may come out stronger than it was before the pandemic.
It does not foresee the need for the global agreement to adjust currency values.
Asked if he will stay two more years, he says he has no plans to leave.
Source: Fx Street
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