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More Rate Cuts? Powell Says Fed Is Ready To Help Economy Grow Amid Trade Tensions


Added 08-23-19 11:06:01am EST - “The central bank will "act as appropriate" to sustain the economic expansion as the trade war with China takes a toll on global growth and parts of the U.S. economy, Fed Chairman Jerome Powell says.” - Npr.org

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Posted By TheNewsCommenter: From Npr.org: “More Rate Cuts? Powell Says Fed Is Ready To Help Economy Grow Amid Trade Tensions”. Below is an excerpt from the article.

Federal Reserve Chairman Jerome Powell said Friday that the central bank "will act as appropriate to sustain" the U.S. economic expansion. Manuel Balce Ceneta/AP hide caption

Federal Reserve Chairman Jerome Powell said Friday that the central bank "will act as appropriate to sustain" the U.S. economic expansion.

Signalling the possibility of more interest-rate cuts, Federal Reserve Chairman Jerome Powell said the central bank will "act as appropriate" to sustain the economic expansion as the trade war with China takes a toll on global growth and the U.S. economy.

In prepared remarks Friday to a Kansas City Fed gathering in Jackson Hole, Wyo., Powell said the economy faces "significant risks" and cited several developments that have roiled financial markets in recent weeks.

Those developments include new U.S. tariffs on imports from China; signs of a global slowdown, namely in the economic powerhouses Germany and China; and the growing possibility that the United Kingdom will leave the European Union without a deal.

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