Economics

Powell Waves Off Recession Fear While Leaving Rate Cuts on Table

Economic outlook ‘favorable’ despite headwinds from trade
Powell says Fed policy will continue to support long expansion

Jerome Powell says the Fed will act as appropriate amid moderate economic growth.(Source: Bloomberg)

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By Craig Torres and Christopher Condon

September 7, 2019 at 9:00 AM UTC

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Federal Reserve Chairman Jerome Powell pushed back against perceptions that the U.S. economy was tilting into a recession, while leaving the door open to further interest-rate cuts to keep the country’s record economic expansion on track.