October 4, 2018 / 2:10 PM / 8 months ago

Central banks risk bad outcomes if influenced by politics -Fed's Quarles

ST. LOUIS, Oct 4 (Reuters) - Federal Reserve Vice Chair Randal Quarles said on Thursday the world’s central banks, including the Fed, risked “quite bad” outcomes if they let themselves be influenced by political considerations.

“The outcomes of central banking, particularly in monetary policy, but also in financial regulation, can turn out to be quite bad if they are too subject to the political pressures of the moment,” Quarles said at a community banking conference in St. Louis.

U.S. President Donald Trump has criticized the Fed’s recent interest rate increases, though Fed policymakers maintain they will not let his preference for lower rates influence their decisions. (Reporting by Howard Schneider Editing by Paul Simao)

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