Fed Vice Chair Fischer: was extremely surprised by Brexit vote; will have to wait and see what outcome is for the economy - CNBC interview
- will have to wait and see with regard to Fed tightening policy; the Fed makes decisions one meeting at a time
- doesn't see a huge difference for US economy because of level of direct trade with UK; it's more important for Europe
- US economy has done pretty well after very bad May employment data
- will have to wait and see how quickly UK enters new trade agreements
- it's difficult to mull Brexit because it will unwind over a long timeframe
- Fed has no plans to move into negative rates, Fed would try to avoid that; can never say never to any potential policy
- negative rates seemed to work well initially, but lately there are some questions about how effective negative rates are