Federal Reserve Chairman Jerome Powell said Wednesday that the U.S economy is suffering from a bout of uncertainty caused by trade tension and slower global growth and he pledged again that the central bank would act as needed to support demand.
“Since [the Fed meeting in mid-June], based on incoming data and other developments, it appears that uncertainties around trade tensions and concerns about the strength of the global economy continue to weigh on the U.S. economic outlook,” Powell said in prepared remarks for Congress.
