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Powell Sees Few Risks Likely to Derail Record U.S. Expansion

  • Fed chairman completes second day of congressional testimony
  • Bullard says Fed can go on policy hold after preemptive cuts
Jerome Powell speaks during a House Budget Committee hearing in Washington on Nov. 14.
Jerome Powell speaks during a House Budget Committee hearing in Washington on Nov. 14.Photographer: Andrew Harrer/Bloomberg
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Federal Reserve Chairman Jerome Powell called the U.S. economy a “star” performer and voiced solid confidence that its record expansion will stay on track.

“Our forecast is, and our expectation very much is, one of continued moderate growth,” Powell told the House Budget Committee Thursday in Washington. “The U.S. economy is the star economy these days,” he said during the second day of testimony before Congress. “There is no reason to think that I could see that the probability of a recession is at all elevated at this time.”