UBS’s Weber: Fed's stimulus reduction negatively hurts Europe, Bloomberg says

UBS Chairman and former European Central Bank Governing Council member Axel Weber says the Fed's plan to reduce stimulus will have a negative affect on the European economy, reports Bloomberg. “The Fed is doing the right thing for the U.S. That’s their mandate, but it’s undisputed that through transaction and arbitrage, it has spillover effects to other constituencies. It’s coming for Europe at an awkward point in time.”

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