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

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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.