WASHINGTON: President Donald Trump's aggressive trade actions sparked a"shock" to business confidence which could impact the economy, and contributes to the case for cutting rates, Federal Reserve Chairman Jerome Powell said on Wednesday .
That concern among manufacturers, in particular the threat to their global supply chains, prompted the Fed to"indicate at our last meeting we were looking at changing rates." Powell confirmed that the Fed is considering adjusting its stance to help the economy continue to grow."The bottom line is the economy is in a very good place and we want to use our tools to keep it there. It's very important this expansion continue as long as possible," Powell said.
But the United States cannot rely on rare decade-long expansions to address the problem of inequality and opportunity.Channel NewsAsia - Sentifi topic widget
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