Comment on Powell: Economy looks resilient despite virus risk

Powell: Economy looks resilient despite virus risk

WASHINGTON – Federal Reserve Chairman Jerome Powell said Tuesday that the U.S. economy appears durable, with steady growth and unemployment near a half-century low, but faces risks from the broadening viral outbreak that began in China. Powell also said that the Fed is content with where interest rates are, suggesting that no further rate cuts would be contemplated unless economic conditions were to change significantly.

 

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