Economics
Powell Reiterates Stronger Case for Cut Amid Economic Risks
- Fed chief’s remarks on outlook echo those he made last week
- Powell notes importance of Fed independence amid Trump attacks
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Federal Reserve Chairman Jerome Powell said the downside risks to the U.S. economy have increased recently, reinforcing the case among policy makers for somewhat lower interest rates.
“Crosscurrents have reemerged, with apparent progress on trade turning to greater uncertainty and with incoming data raising renewed concerns about the strength of the global economy,” Powell told the Council on Foreign Relations in New York on Tuesday.