Top
image credit: Federalreserve / Flickr

Fed Chair Paints Rosy Economic Picture, but Says Risks Remain

November 13, 2019

WASHINGTON — Jerome H. Powell, the Federal Reserve chair, will paint an optimistic picture of the United States economy in testimony before Congress on Wednesday, though he warns that threats to the outlook persist.

“In particular, sluggish growth abroad and trade developments have weighed on the economy and pose ongoing risks,” Mr. Powell will say, according to prepared remarks.

The United States’ central bank has cut interest rates three times since late July, as tensions from President Trump’s trade war and slowing growth abroad unnerved companies and weighed on investment.

Read More on The New York Times