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Powell Says Fed Will Sustain Expansion, Reinforcing Rate-Cut Bet

  • Fed chair’s remarks solidify expectations for 25 bps rate cut
  • Powell, speaking in Zurich, plays down recession risks
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Powell Expects Moderate Economic Growth, Says Fed Will Act as Appropriate
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Federal Reserve Chairman Jerome Powell said the most likely outlook for the U.S. and world economy is continued moderate growth. His comments cemented expectations for another quarter-percentage-point cut in interest rates later this month.