US economy likely to keep growing: Powell
WASHINGTON (AFP) — The American economy should continue its expansion, with strong jobs markets but with price pressures in check and inflation approaching the central bank’s target, Federal Reserve Chairman Jerome Powell said Tuesday.
However, U.S. job creation has slowed while a weakening global economy, trade wars and Brexit uncertainty are risks to the outlook, he said.
Policymakers “continue to see a sustained expansion,” Powell said in a speech to the National Association for Business Economics in Denver.
In addition, he said the Fed will soon announce more permanent measures to boost banks’ cash reserves after a recent shortage sent short-term interest rates skyrocketing.