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Tuesday, November 30, 2021

U.S. economy can expand for ‘quite some time’: Fed Chair Powell

U.S. economy can expand for 'quite some time': Fed Chair Powell© Reuters. FILE PHOTO: U.S. Federal Reserve Chairman Jerome Powell holds a news conference

(Reuters) – The Federal Reserve may raise interest rates above an estimated “neutral” setting as the “remarkably positive” U.S. economy continues to grow, Fed Chairman Jerome Powell said on Wednesday.

The current economic expansion “can continue for quite some time,” Powell said at the Atlantic Festival in Washington D.C. “If we see things getting stronger and stronger with inflation moving up then we might move a little quicker. If we see the economy weakening or inflation moving down we might move a little more slowly,” he added.

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Source: Investing.com

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