Fed's Powell predicts solid but slower growth in 2019
Feb 26, 2019
Powell predicts solid but slower growth in 2019, says Fed remains 'patient' on rate hikes
WASHINGTON — Federal Reserve Chairman Jerome Powell says the U.S. economy should keep expanding at a solid, though somewhat slower pace this year. But he warns of growing risks, including a global slowdown, volatile financial markets and uncertainty about U.S. trade policy.
In delivering the Fed's semiannual monetary report to Congress, Powell says the Fed will be "patient" in determining when to boost its benchmark policy rate in light of the various "crosscurrents and conflicting signals." He says the Fed's rate decisions will be "data dependent" as the economic outlook evolves.
The Fed in December indicated it could hike rates two times this year, after four rate hikes in 2018. But many private economists believe the Fed will keep rates unchanged until late this year and may not hike at all.
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