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Powell: U.S. in 'favorable' place, Fed will 'act as appropriate'

Friday, 23 August 2019 21:23 WIB Federal Reserve The Fed Jerome Powell

The U.S. economy is in a "favorable place" and the Federal Reserve will "act as appropriate" to keep the current economic expansion on track, Fed chair Jerome Powell said on Friday in remarks that gave few clues about whether the central bank will cut interest rates at its next meeting or not. The chair, under pressure from President Donald Trump to cut rates soon and deeply, listed a series of economic and geopolitical risks that the Fed is monitoring — many of them, Powell noted, linked to the administration's trade war with China and other countries. But "the U.S. economy has continued to perform well overall," Powell said in keynote remarks at an annual Fed economic symposium at this...

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