Looming Fed Rate Rise Welcomed by Taiwan Finance Chief Chang
ByTaiwanese Finance Minister Chang Sheng-ford said he’d be “glad” to see the Federal Reserve raise interest rates, even given the likelihood that the resulting capital flows will deal a short-term blow to his economy.
“If the U.S. raises interest rates, it means the U.S. economy is recovering at a faster pace,” Chang, 65, said in an interview in Taipei on Monday. “This would be helpful to Taiwan’s economy because the U.S. is one of our big export destinations.”
Chang indicated that he saw any blow from capital shifts from Taiwan as likely to be manageable and outweighed by the benefits for Taiwan and Asia from a strengthening of the world’s biggest economy. Some money has already been exiting, he added…
Looming Fed Rate Rise Welcomed by Taiwan Finance Chief Chang
