Years of strong jobs, low inflation still ahead, says US Federal Reserve
Updated : July 18, 2018 12:01 AM IST
Powell in written testimony to the Senate Banking Committee and in his response to questions about a possible "trade war" largely discounted the risks and said there would be a positive outcome if the administration's bargaining ultimately produced a world of lower tariffs.
The Fed's regional bank presidents have increasingly cited local business concerns about the administration's trade tactics, with higher input costs and uncertainty over the future offsetting the recent corporate tax cut and pushing firms to reconsider or delay investment plans.
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 pull the country back from a deep financial crisis and recession.
Have you signed up for Primo, our daily newsletter?
It has all the stories and data on the market, business, economy and tech that you need to know.
THANK YOU! You made our day. See you every morning
YOUR EMAIL IS ON ITS WAY. Check your inbox for future updates.
To keep watching CNBC-TV18, India's No. 1 English Business News Channel, call your Cable or DTH Operator and subscribe now for just Rs. 4 per month. You can also subscribe to CNBC-TV18 Prime HD for Re 1/- per month.Find out more