China’s vice finance minister has praised Federal Reserve Chair Janet Yellen for her clear communication to financial markets and G20 partners and her cautious approach, telling CNBC that the mainland is hoping Fed policy will have a positive impact on its economy.
As a “real superpower,” the Fed has a big spillover effect on the world, Zhu Guangyao said in an interview on Friday in Washington.
“We hope that’s positive spillover and largely reduces negative spillover. We found the Federal Reserve very cautious in their process and (it) takes us into consideration,” he said, noting that Fed policy is still largely based on the U.S. economic situation.
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