![]() ![]() ![]() Powell also said that the Fed does not see wild moves in the stock market to hurt the “outlook for economic activity, the labor market and inflation." He also does not see tax cuts and spending increases to overheat the economy. Such strong outlook about the economy upset investors. He indicated that the economic outlook has picked up more pace since December, given stronger growth and inflation data, the passing of the tax reform and an uptick in government spending in a January budget deal. Powell highlighted in his first Congressional testimony that the central bank is on its course to raise rates gradually. The new Fed Chairman provided a relatively more bullish outlook of the U.S. Now that Janet Yellen has ended her four-year term, it’s time to welcome the Jerome Powell era.
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