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Dollar's rise won't blind Fed to its goals, Fischer says
November 21, 2016 / 2:26 PM / a year ago

Dollar's rise won't blind Fed to its goals, Fischer says

NEW YORK (Reuters) - The Federal Reserve, in deciding policy, will consider the rise in the dollar since the U.S. election but it will not stop the Fed from “doing what we should do” based on the economy’s goals, the central bank’s vice chairman said on Monday.

“There has been some appreciation of the dollar” since the election, Stanley Fischer said, noting that trade-weighted index measures are affected by the “significant devaluation” of the Mexican peso.

“To the extent that exchange-rate changes affect employment (it is) potentially quite important but not the only thing that happens,” he said. But “it won’t stop us from doing what we should do on the basis of inflation and unemployment in the domestic economy.”

Reporting by Jonathan Spicer; Editing by Chizu Nomiyama

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