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Post by bot on Sept 4, 2015 18:49:24 GMT -5
Treasury's Lew: Stress in financial markets no cause for immediate concern
Treasury Secretary Jacob Lew is keeping a "careful eye on market volatility" and looking at any related risk to the U.S. economy, he said in a CNBC interview aired on Thursday morning. "We are looking at what, if any, risks there are, and so far have not seen the kinds of stresses in financial institutions that would cause us to have any immediate concerns," he said in the interview. Lew also said he tries to "not respond immediately" to minute-to-minute or day-to-day market moves, but instead consults with senior leaders in the financial world, colleagues and central bankers. In the same interview, Lew also criticized China's move last month to change its foreign-exchange policy.
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