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Powell Sees Bright Moment for Economy With More Hikes Ahead

  • Central bank makes third hike in 2018, disappointing Trump
  • Powell says inflation looks stable despite low jobless rate
Bloomberg business news
Federal Reserve Chairman Jerome Powell comments on the state of the U.S. economy during a news conference.(Source: Bloomberg)
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Ten years after the peak of the financial crisis, Jerome Powell’s Federal Reserve sees a U.S. economy capable of humming along without support from monetary policy.

Unemployment is low. Inflation is stable and anchored. Financial conditions merit watching, but don’t look overly worrisome. And against that backdrop, policy makers are raising interest rates gradually despite renewed criticism from President Donald Trump.