Economics
Yellen Sees No U.S. Recession, Says Fed Won't Cut in 2019
- Former Fed chair speaks at investor conference in Fort Worth
- ‘I expect them to stay on hold during the year,’ she says
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The U.S. economy isn’t likely to slip into recession anytime soon, and there is no reason for the Federal Reserve to cut interest rates, former Fed Chair Janet Yellen said.
Speaking to an investor conference in Fort Worth, Texas on Thursday, Yellen said that while Fed officials had marked down their economic growth forecasts to a median of 2.1 percent for 2019, “that’s not a recession. A slowdown is something that was long expected.”