China Official: Mainland Eyes Boost from ‘Superpower’ Federal Reserve

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.

CNBC

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Craig Erlam

Craig Erlam

Senior Market Analyst - UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a Market Analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and BNN. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
Craig Erlam