White House economic adviser Deese: Not surprised by the negative reaction of financial markets

Ross J Burland FXStreet

The White House economic adviser Brian Deese spoke in recent trade.

He said that he is not surprised by the negative reaction of financial markets to Britain's fiscal plans, including tax cuts, and underscored the need to maintain "fiscal prudence, fiscal discipline."

Deese was speaking at an event hosted by the Economic Club of Washington.

He added that Britain's plans during a cycle of monetary tightening had put the monetary authorities in a position of potentially having to tighten even further.

Key notes

The US is in an unprecedented transition but has confidence in the resilience of the economy.

Europe is significantly more exposed to energy price volatility, which will continue to be a tough period for UK and EU.

Asked about Britain's economic plans, says it's important to focus on fiscal prudence and discipline.

I'm fundamentally optimistic about the US economy, which can emerge stronger than before the pandemic.

Does not anticipate the need for the global accord to adjust currency values.

Asked if he will stay on for two more years, says he has no plans to leave.

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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