US inflation would have hit 2% if not for oil, US Dollar – Fed’s Fischer

Additional comments hitting the wires from Fed’s Vice Chair Fischer, as he addresses the Q & A session following his earlier speech.

Key Quotes:

US inflation would have hit 2% if not for oil, US Dollar

Weak US productivity is more an episode than secular

Lower oil prices are sustaining consumer spending

Volatility in markets as much to do with China as with any concern about effect of oil sector on US banks and financial system

US financial sector has been strengthened enormously

We are studying the experience of negative rates abroad
European experience with negative rates has been better than expected

Some negative rates in Europe stemmed capital inflows

Fed has no plans to use negative rates although it is under study