Possible trade war 'not winnable' for U.S. - Fed's Dudley

NEW YORK (Reuters) - The Federal Reserve is "very much focused" on possible threats to U.S.-China trade that could hurt the U.S. economic outlook, New York Fed President William Dudley said on Wednesday, adding a trade war "is not a winnable proposition."

The Trump administration is pursuing potential tariffs, negotiations and other restrictions to try and cut a massive trade deficit with China. "A tariff war would be a terrible, terrible outcome," Dudley said when asked at Lehman College. "I would not look at trade wars as something that we can win."

(Reporting by Jonathan Spicer; editing by Diane Craft)