White House's Deese, asked about UK's economic plans, underscores need for 'fiscal prudence'

White House economic adviser Brian Deese on Tuesday said he was not surprised by the negative reaction of financial markets to Britain's fiscal plans, including tax cuts, and underscored the need to maintain "fiscal prudence, fiscal discipline."

Deese, speaking at an event hosted by the Economic Club of Washington, said Britain's plans during a cycle of monetary tightening had put the monetary authorities in a position of potentially having to tighten even further.

The International Monetary Fund on Tuesday took aim at Britain's fiscal plans after the British pound hit an all-time low, citing high inflation, and urged London to consider more targeted support to affected families and businesses.

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