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    US Fed Considering Basic Plan for Post-Brexit Vote Market Volatility

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    The US Federal Reserve is thinking of basic contingency measures if financial markets become too volatile after the Brexit vote but is unlikely to have anything concrete in place, former IMF European Department Deputy Director Susan Schadler told Sputnik on Thursday.

    WASHINGTON(Sputnik) — UK voters are currently voting in a referendum to determine whether or not the United Kingdom should leave the European Union. The pound rallied against the dollar and oil prices rose as polls indicated the pro-remain camp was leading.

    "I am sure the Fed is thinking of the standard things to do if money markets become too volatile in the wake of a Brexit vote,” Schadler said. “However, I really think this is overblown.”

    It would be surprising if the US federal government has anything concrete in place beyond “soothing” public statements, Schadler noted.

    “Should the vote be for a Brexit, there would obviously be many trade and legal issues that would have to be addressed over time and once the parameters of the separation became clear,” Schadler added.

    The latest poll by Ipsos MORI indicated that 52 percent of UK nationals support remaining within the European bloc, while 48 percent are against such a scenario.

    A Populus poll said that 55 percent of respondents intended voting to stay, while the Financial Times poll tracker, which aggregates a range of surveys, showed a 2-percentage-point lead for EU membership supporters.

    Brexit supporters argue that EU membership has diminished the country’s independence to legislate, direct its economy and control its borders. Opponents warn that leaving the bloc could severely harm the UK economy.

    Related:

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    Oil Prices Grow as Polls Show Brexit Scenario Less Likely
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