Fed's Dudley says optimistic on China's economic transition

HANGZHOU, China (Reuters) - New York Federal Reserve President William Dudley said on Tuesday he was optimistic that China's economic transition could be managed, and said policymakers were doing a good job reorienting growth toward consumption.

"I think that they are on the right course. Obviously, this is difficult to manage because it's a big, complex economy so I would not be surprised if there were a few bumps...but I think that I'm quite optimistic that this transition can be managed," he said.

Dudley, a permanent voter on U.S. monetary policy, was speaking at a forum in the Chinese city of Hangzhou.

(Reporting by Li Zheng, Sun Qizi, John Ruwitch and Pete Sweeney; Editing by Jacqueline Wong)

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Fed’s Daly sees bond market as policy signal
• Goldman Sachs closes short THB/INR trade for small gain
• If you too like a good mystery, then you like the U.S. economy - Barkin