Powell: Economy looks resilient despite risk of China virus

0
46
MARTIN CRUTSINGER AP Economics Writer WASHINGTON (AP) — Federal Reserve Chairman Jerome Powell said Tuesday the U.S. economy appears durable with steady growth and unemployment near a half-century low but faces some risk from the broadening viral outbreak that began in China. Giving the Fed's semiannual monetary report to Congress, Powell said that the Fed is content with where interest rates are, suggesting that no further rate cuts are being contemplated unless economic conditions were to change significantly. President Donald Trump let it be known in a tweet during that appearance Tuesday that he was not happy with Powell's message on interest rates. "Fed rate is too high. Dollar tough on exports," Trump said in a tweet, saying the Dow Jones industrial average had fallen into ne
Subscribe or log in to read the rest of this content.