WASHINGTON - The US Federal Reserve is “not forecasting or expecting a recession” its chairman Jerome Powell said in Zurich on Friday (Sept 6), on the heels of a mixed August job report released in Washington.. Read more at straitstimes.com.
WASHINGTON - The US Federal Reserve is “not forecasting or expecting a recession” its chairman Jerome Powell said in Zurich on Friday , on the heels of a mixed August job report released in Washington.
The report, while below expectations, relieved recession fears. But the return of optimism still hinges on the outcome of talks with China, which are expected to resume at a senior level next month when China’s Vice-Premier Liu He and his delegation are due to visit the US.“It is good thing that they’re coming here, and tempers are calmer now,” Mr Kudlow told CNBC.
“President Trump himself continues to say we will make a deal, as long as it’s a good deal for the United States work force and the economy, and the President himself believes China wants to make a deal because they are not doing well,” he added. The United States' jobs report for August, with headline numbers below expectations, shows that the economy is being propped up by consumer spending, analysts said. The economy added just 130,000 new jobs in August - evidence hiring has slowed. But the unemployment rate remained at 3.7 per cent for the third month in a row, meaning the number of unemployed persons, at six million, remained essentially unchanged.
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