Fed's Lacker: China shouldn't have much effect on US

Comments from Lacker were made Jan 18 but just released now

• Tough to see a brad, strong channel of transmission from China
• Fed risks overreacting to China
• During 1998 Asian financial crisis, Fed cut three times expecting turmoil but it never materialized and Fed got behind the curve

The comments were recorded for a Bloomberg radio interview that will be broadcast on Saturday.

I find it troubling that Lacker is so quick to blame the turmoil on China. That reeks of jumping to conclusions and I disagree with those conclusions. To me, the turmoil isn't about China, it's all about commodities and there is definitely a 'transmission channel' to the US there, given the massive oil industry in the US.