Mubasher: The US Federal Reserve did not make a sharp turn in policy when it decided to raise interest rates in December, a top official said.

Data required for identifying an economic slowdown has been delayed due to the government shutdown, Federal Reserve vice chairman Richard Clarida said in an interview with CNN.

Clarida confirmed that the US economy and monetary policy are both “in a good place.”

“The labour market data is still strong, [and there are] some softer retail numbers,” the top official indicated.

There are different scenarios where the Fed might raise interest rates, or keep them unchanged, Clarida added.

The top official ruled out an economic slowdown in China, noting that if it happened, it would hit all economies in the world.  

On the other hand, a hard Brexit would be a large hit to the British economy alone, and the “global financial system…would continue to function,” Clarida indicated.