Sunday, November 17, 2019
Powell Confident In Future of US Economy
In his hearing in front of the Joint Economic Committee, Jerome Powell stated his confidence in our economy. He said that our economy is strong, pointing to our growth, consumption and the level of inflation. He went on to say that the negative interest rates that President Trump continues to push for are necessary for countries with low growth and high inflation, and that is not the case in the States. Overall, Powell was confident that despite many analysts are predicting a recession, the Fed's outlook expects the economy to continue to grow.
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Lucas, is Powell confident that there will not be a recession, or is he stating that there be high growth levels? Personally, I feel like we won't see high growth levels, but neither an economic downturn.
ReplyDeleteNot to say it hasnt happened but I cant seem to find evidence of a time outside a recession where the fed chair has officially spoke negatively about the health of the economy overall. Why do you think President Trump is pressuring the fed to lower rates even potentially to a negative yeild when he claims the US will experience growth and interest rates have been at a consistent low for almost a decade now?
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