Fed Chair Powell meets Chinese counterpart Yi Gang

BEIJING — The heads of the U.S. and Chinese language central banks met in Washington, D.C., on Tuesday, the Folks’s Financial institution of China mentioned in an announcement Friday.

PBoC Governor Yi Gang and U.S. Federal Reserve Chair Jerome Powell “exchanged views” on China-U.S. financial and monetary developments, the assertion mentioned, in response to a CNBC translation.

The assembly of the Fed and PBoC heads comes as political tensions between the world’s two largest economies have escalated and restricted high-level interactions. U.S. Treasury Secretary Janet Yellen mentioned this week that she nonetheless hoped to go to China, with out specifying when.

Yi was attending the spring conferences of the Worldwide Financial Fund and World Financial institution in D.C., the PBoC assertion mentioned. It didn’t embrace any images.

The U.S. Federal Reserve and IMF didn’t instantly reply to a CNBC request for remark exterior of native enterprise hours.