While there have been some economic “headwinds” in the wake of the UK.’s Brexit vote to leave the E.U., there’s no indication that it will lead to another financial crisis, U.S. Treasury Secretary Jack Lew said.

“There is no sense of a financial crisis developing,” Lew said in an interview with CNBC on Monday. “Obviously this is a change in policy that has implications which change the decisions investors make so I’m not saying there’s not an impact in the markets.”

Lew said Monday the impact on the markets, so far, had been “orderly.”

The British pound plummeted in its biggest one-day drop ever on Friday and its value continued to falter against the U.S. dollar on Monday. The U.S. market was off to a rough start on Monday as well, with the Dow Industrial Average, Standard & Poor’s 500 stock index, NASDAQ, and several banks down in morning trading.

Lew said that though he thought the best outcome for the U.K. and European economy would have come had citizens voted to remain, “the democratic process in the U.K. has produced a result.”

“Now the challenge is for leaders in the U.K., Europe, and around the world to manage in times of change,” Lew said.

[CNBC]

Get The Brief. Sign up to receive the top stories you need to know right now. Please enter a valid email address. Sign Up Now Check the box if you do not wish to receive promotional offers via email from TIME. You can unsubscribe at any time. By signing up you are agreeing to our Terms of Use and Privacy Policy . This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply. Thank you! For your security, we've sent a confirmation email to the address you entered. Click the link to confirm your subscription and begin receiving our newsletters. If you don't get the confirmation within 10 minutes, please check your spam folder.

Contact us at letters@time.com.