Economics
Fischer Says Fed's Next Decision Unclear Amid Global Uncertainty
- Tells audience not to ask what Fed will do at next meeting
- Fed's No. 2 still confident inflation will rise to 2%
Fischer: Volatility Making Market Predictions Hard
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Federal Reserve Vice Chairman Stanley Fischer said it was too difficult to gauge the impact on the U.S. economy from recent turmoil in financial markets and uncertainty over China, leaving policy makers undecided about what to do next.
“If these developments lead to a persistent tightening of financial conditions, they could signal a slowing in the global economy that could affect growth and inflation in the United States,” Fischer the Council on Foreign Relations in New York on Monday. “But we have seen similar periods of volatility in recent years that have left little permanent imprint on the economy.”