Fed’s Kaplan says trade fight with China is ‘right fight’

(Reuters) – Battling with China on trade issues is “the right fight” to pick, a U.S. central banker said on Friday, but it would not be surprising if it takes months or even years to resolve.

“If we stop right now …in terms of the overall U.S. economy the impact has been modest,” Dallas Federal Reserve Bank President Robert Kaplan told a conference at the bank’s headquarters, adding that he believes the United States will resolve its trade differences within North America and with Europe in the near term.

With China, he said, the process could take more time. “If it widens out though to more goods or goes on longer, we’ll (Fed policymakers) obviously reserve the right to revisit that and we will revisit it.”

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