- September 28, 2022
- Posted by: Stratford Team
- Category: Economy
WASHINGTON, Sept 27 (Reuters) – White House economic adviser Brian Deese said on Tuesday he was not surprised by the negative reaction of financial markets to Britain’s fiscal plans and tax cuts, underscoring the need to maintain “fiscal prudence, fiscal discipline.”
Deese, speaking at an event hosted by the Economic Club of Washington D.C., said Britain’s plans came during a cycle of monetary tightening and had put the monetary authorities in a position of potentially having to tighten even further.
“In a monetary tightening cycle like this, the challenge with that policy is that it just puts the monetary authority in a position potentially to move even tighter. I think that’s what you saw in reaction,” said Deese, director of the White House National Economic Council.
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“It is particularly important to maintain a focus on fiscal prudence, fiscal discipline,” he said.
Deese’s comments came hours…
