Jerome Powell says as trade tensions escalate, the Fed continues to monitor and will respond if needed to keep the economy growing
CHICAGO—Federal Reserve Chairman Jerome Powell said the central bank is closely monitoring the recent escalation in trade tensions and indicated it could respond by cutting rates if the economic outlook deteriorates.
But he didn’t say whether he thought that would be needed in remarks delivered Tuesday morning. “We do not know how or when these trade issues will be resolved,” Mr. Powell said. “We are closely monitoring the implications of these developments for the U.S. economic outlook and, as always, we will act as appropriate...
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