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23.08.2019, 14:29

Fed's Chairman Powell: We will act as appropriate to sustain the expansion, with a strong labor market and inflation near its 2 percent objective

  • Fed is working to sustain favourable economic conditions in the face of significant risks
  • Does not repeat mid-cycle adjustment
  • U.S. economy is close to both of Fed's goals
  • Our challenge now is to do what monetary policy can do to sustain the expansion
  • We are carefully watching developments as we assess their implications for the U.S. outlook and the path of monetary policy
  • Says three weeks since FOMC latest meeting were eventful
  • Slowing global growth, trade policy uncertainty, muted inflation weigh on favorable outlook
  • Inflation is moving up towards 2%
  • U.S. job market is historically strong
  • Low inflation seems to be the problem of this era, not high inflation

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