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Fed's Fischer: US economy is 'looking better'

The Federal Reserve's Stanley Fischer discussed his views on the impact of Brexit, the state of the economy and the potential of negative U.S. interest rates in a wide-ranging interview on CNBC on Friday.

"First of all, the U.S. economy since the very bad data we got in May on employment has done pretty well. Most of the incoming data looked good," Fischer said. "Now, you can't make a whole story out of a month and a half of data, but this is looking better than a tad before."

He added, "Our primary obligation, it's set out in the law, is to do what's right for the American economy. Of course we take what happens abroad into account because it affects the American economy. ... We'll base what we do on what's happening in the United States and what we think will happen."

On the potential for negative rates in the U.S: "If there is one thing we don't want to do, we have no plans to move into negative territory."

Fischer is the vice chairman of the Federal Reserve Board of Governors. Previously, Fischer was governor of the Bank of Israel from 2005 to 2013.

To watch the broadcast interview in its entirety, you must be a CNBC PRO subscriber.