Fed's Powell: Monetary policy well positioned to support strong labor market

  • 📰 ChannelNewsAsia
  • ⏱ Reading Time:
  • 27 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 66%

Ireland News News

Ireland Ireland Latest News,Ireland Ireland Headlines

Monetary policy is 'well positioned' to support the strong labor market, which is just now starting to benefit workers on the margins, Federal ...

PROVIDENCE: Monetary policy is"well positioned" to support the strong labor market, which is just now starting to benefit workers on the margins, Federal Reserve Chair Jerome Powell said Monday.

Powell said Fed officials have a favorable outlook for the U.S. economy founded on strong consumer spending, which is bolstered by a robust job market, increasing incomes and solid consumer confidence. Fed officials cut interest rates in October for the third time this year, bringing their target rate to a range of 1.5per cent to 1.75per cent. Powell and other policymakers hinted after the reduction that rates were likely to stay put for the foreseeable future, barring a deterioration to the economic outlook.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 6. in İE

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Hong Kong: Stocks start Monday with strong gainsHongKong: Stocks start Monday with strong gains
Source: BusinessTimes - 🏆 15. / 51 Read more »