Fed's Quarles: Most focused on direction of global growth, downdraft in China and Europe, trade policy

More comments flowing in from the Fed Vice Chairman of Supervision Randal Quarles, but nothing much on the monetary policy again.

“We have better tools than monetary policy to address financial stability concerns”.

Most focused on the direction of global growth, the downdraft in China and Europe, trade policy.

Liquidity positions of banks are much stronger today than before the financial crisis.

Some asset valuations are stretched but that financial stability risks are moderate.