Fed's Powell repeats that U.S. economy is in 'a good place'

FILE PHOTO: Federal Reserve Chairman Jerome Powell holds a press conference following a two-day Federal Open Market Committee policy meeting in Washington, U.S., January 30, 2019. REUTERS/Leah Millis/File Photo - Copyright Leah Millis(Reuters)

By Reuters

Published on 07/02/2019 - 03:04•Updated 16/04/2024 - 14:59

Comments

WASHINGTON (Reuters) - Federal Reserve Chairman Jerome Powell said on Wednesday the U.S. economy remains in a good place and has proved resilient so far to shocks like the British decision to leave the European Union.

“The U.S. economy is now in a good place," with low unemployment and inflation near the Fed's 2 percent target, Powell said in a question-and-answer session with economics educators in Washington and telecast to Fed branches nationwide. “We've had some big events, some surprises like Brexit...and the system has been strong,” he said.