January 13, 2020 / 4:14 PM / a month ago

Fed's Rosengren says phase 1 China trade deal won't eliminate concerns

HARTFORD, Conn (Reuters) - The phase one trade deal with China is unlikely to put an end to the era of uncertainty around tariffs that has been putting a damper on U.S. business investment, Boston Federal Reserve Bank President Eric Rosengren said on Monday.

“Overall, I don’t think the trade agreement by itself has really eliminated the problem with trade concerns,” Rosengren said after delivering remarks before the Connecticut Business & Industry Association in Hartford, Connecticut.

Rosengren said the deal being discussed is not a “complete trade agreement” and that businesses are likely to wait for more clarity on tariffs before making major investments. The Fed official also said he expects consumer spending to remain strong amid a robust labor market, a rising stock market and strong personal income.

Reporting by Jonnelle Marte; Editing by Andrea Ricci

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