Fed's Powell: Years of strong jobs, low inflation still ahead – Business News

WASHINGTON: Federal Reserve Chairman Jerome Powell said on Tuesday he said the United States is on a steady growth path, but has been challenged by a congressional hearing by Trump Trustees in their districts.

Powell in the case of the Senate Banking Committee, and the possibility of a "trade war" in the future, would have a positive effect on the future. 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 put our head on the market. in the sand "about the impact, Heitkamp said. "

While Powell steered clear of President Donald Trump's slapping of tariffs," We are going to look back at this time in a year and say that we are heading to the corner and the economy. On the other hand, he said that it was "absolutely" the wrong approach and said the United States "it would be nice to have the national level" if it remained in place for too long.

The Fed's regional bank presidents have long cited local business concerns over the administration's trade tactics, with greater input costs and uncertainty over the future offsetting the recent corporate tax cut and pushing firms to reconsider or delay investment plans.

SEVERAL GOOD YEARS AHEAD

The role of the president of the United States In the Oversight of Major Banks, while in contrast, one Republican said the current positive economy and Powell's presence at the Fed had made the central bank "boring" to oversee.

For Powell, his statement 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 back of a deep financial crisis and recession.

"With appropriate monetary policy, the job market will remain strong

The Fed "believes that – for now – the best way forward is to keep the federal funds upside down" in a way that Pregnancy with a strengthening economy but does not increase rates of growth, Powell said.

US pink stocks on powell's upbeat comments, while bond prices fell and the pink dollar. But analysts 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 / her / its own views on the subject of tightening or other 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." (19659002) While he may be expected, Powell said, continued to be able to continue to work. Other Fed officials have declined to declare a full "victory" over the Fed's other mandate of 2 percent inflation, Powell said the marker was "close."

The Fed's preferred measure of inflation hit 2.3 percent in May, and was right at

"The recent data are encouraging," Powell said, "The United States is about to grow up, and the United States is growing fast." Still-low interest rates, a steady financial system, continued global growth and the boost from recent tax cuts and increased federal spending "continues to support the expansion," he told the panel – Reuters