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By Howard Schneider and Lindsay Dunsmuir
WASHINGTON (Reuters) – Federal Reserve Chairman Jerome Powell said on Tuesday he sees the United States on a steady state of growth, but was challenged by a congressional hearing Trump administration's trade policies are already in their districts.
Powell in its testimony to the Senate Banking Committee and its possible "trade war" would be a positive outcome of the administration of the world. 19659002] North Dakota Goal Heidi Democrat Heidi said it was becoming frustrated with the idea of "short-term bread for long-term gain," noting that the
"We can not afford to get into the head of the sand" about the impact, Heitkamp said. "We are going to look back at this time in a year and say that we are going back to the corner and the economy is starting at a downturn."
While Powell steered clear of President Donald Trump's slapping of tariffs on goods, particularly from China but also from US allies in Europe and elsewhere, he said that tariffs were "absolutely" the wrong approach and said the United States " Would you like to stay at the national level?
SEVERAL GOOD YEARS AHEAD
The Federal Republic of Germany (19659002) The Democracy of the United States of America. In the Oversight of Major Banks, while in contrast, the Republican said the current positive economy and Powell's presence at the Fed had made the central bank "boring" to oversee.
For Powell, his testimony marked one of the strongest affirmations yet by a Fed leader that the central bank is within reach of its policy targets after years of struggling to the country back from a deep financial crisis and recession.
"With appropriate monetary policy, the job market will remain strong, and will not be affected by this."
The Fed "believes that – for now – the best way
US
US forwarding to a federal government is one of the most important sources of growth in the world. pink stocks on powell's upbeat comments, while bond prices fell and the pink dollar. But badysts said there was little of surprise in the Fed chairman's message.
"His takeaway was the job market," said Peter Cecchini, "this inflation is going to stay near 2 percent. , chief market strategist at Cantor Fitzgerald in New York.
Powell did not offer his views on the subject of tightening or whether he thinks that the Fed should pause its rate hike cycle sometime next year if inflation remains under control. But it's a good bargain, but it's going to be a big hit with the price of between 1.75 and 2 percent.
With Unemployment at 4 percent, Fed Officials broadly feel they have put their mandate for "maximum employment." To the extent of the consequences, it is expected that this will continue to be the case.
While he and other Fed officials have declined to declare a full "victory" over the Fed's other mandate of 2 percent inflation, Powell said it was "close."
The Fed's preferred measure of inflation hit 2.3 percent in
"The recent data is encouraging," Powell said, "The United States is nearing the end of the world." to continue.
Still-low interest rates, a steady financial system, ongoing global growth and the boost from recent tax cuts and increased federal spending "continues to support the expansion," he told the panel.
(Reporting by Howard Schneider and Lindsay Dunsmuir, Additional reporting by Shruthi Shankar, Editing by Andrea Ricci)
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