US econ­omy likely to keep grow­ing: Pow­ell

The Korea Times - - WORLD -

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.

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