U.S. and Hong Kong (1985-1997)

WHITE HOUSE DAILY BRIEFING, OCTOBER 23, 1997

White House Press Secretary Mike McCurry briefed October 23.

Following is the White House transcript:

(begin transcript)

THE WHITE HOUSE

Office of the Press Secretary

October 23, 1997

PRESS BRIEFING BY MIKE MCCURRY

The Briefing Room

[ ...Intervening Text... ]

Q: What degree are the President and his economic advisors monitoring
the events in Hong Kong, the volatility of the markets there, fueled
in part by skyrocketing interest rates in that country linked to the
currency relationship with the U.S. dollar?

MCCURRY: As you know, we generally don't comment on financial market
developments. The Federal Reserve and the Treasury are carefully
monitoring the situation in Hong Kong and throughout Asia. They have
been in close contact with their counterparts in the region. Beyond
that, I don't think there is additional comment that we would want to
make from the White House.

[ ...Intervening Text... ]

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