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Powell says August job report is sign of continued strength in labor market, doesn't see a recession


Saturday, 7 September 2019 01:23 WIB

ECONOMICJerome Powell


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Federal Reserve Chairman Jerome Powell said Friday afternoon that the most recent monthly gauge of the U.S. labor market fit into an overall picture of a healthy jobs market and economy.

In a question-and-answer session in Zurich, Powell said the outlook for the economy remains favorable, describing the future as one likely to reflect continued moderate economic expansion.

Powell said the central bank is “not forecasting or expecting a recession.”

Repeating his message from Jackson Hole, Wyoming, Powell said there are “significant” downside risks facing the economy and said the Fed is going to monitor all these factors.

In one comment that some watchers could interpret as dovish, or accommodative, Powell said the Fed was worried about inflation getting too low, suggesting that the central bank may act to bolster stubbornly low inflation.

Asked specifically about possible interest-rate cuts, Powell said he only wanted to say that the Fed “would act as appropriate to sustain the expansion.”

Source : MarketWatch


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