Slower growth abroad poses risk to US, Fed chair Jerome Powell says
‘In principle, anything that affects the outlook for employment and inflation could also affect the appropriate stance of monetary policy, and that could include uncertainty about trade policy’
23 August 2019 - 17:47
Washington — US Federal Reserve Chair Jerome Powell said the US economy is in a favourable place but faces “significant risks” as growth abroad slows amid trade uncertainty.
“Trade policy uncertainty seems to be playing a role in the global slowdown and in weak manufacturing and capital spending in the US,” Powell said in the text of his remarks Friday to central bankers gathered at the Kansas City Fed’s annual symposium in Jackson Hole, Wyoming. “We will act as appropriate to sustain the expansion, with a strong labour market and inflation near its symmetric 2% objective.”..
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