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Fed Chair Powell has discussed with their Chinese partner Yi Gang

April 17, 2023: On Friday, the heads of the U.S. and Chinese central banks had a meeting in Washington, D.C., on Tuesday, the Bank of China stated.

PBoC Officer Yi Gang and U.S. Federal Reserve Chair Jerome Powell “exchanged ” on China-U.S. economic and economic trends, the statement said, according to a translation.

The Fed and PBoC heads meet as political tensions between the world’s two biggest economies have escalated and limited high-level interactions. U.S. Treasury Secretary Janet Yellen stated this week that she wished to visit China without specifying when.

Yi attends the spring discussions of the Global Monetary Fund and World Bank back in D.C., the PBoC statement stated. It did not include any photos.

The monetary policies of the U.S. and China have changed since the pandemic.

China has looked after a relatively loose stance since completing its strict Covid management in December.

In contrast, the U.S. has strictly hiked interest rates to tackle decades-high inflation; a few blame the strict for the Silicon Valley Bank fallout.

Mainland China is also the second-biggest non-U.S. holder of Treasuries, behind Japan.

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