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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

Video player cover image — Powell Expects Moderate Economic Growth, Says Fed Will Act as Appropriate

By

Catherine Bosley and

September 6, 2019, 5:02 PM UTCUpdated onSeptember 6, 2019, 7:11 PM UTC

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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.