China doesn’t pose ‘imminent risk’ to U.S. economy, Powell says

Federal Reserve Chairman Jerome Powell said Wednesday he was heartened by signs of a turnaround in the global economy and said he didn’t think China’s economy would pull down global growth.

At the FOMC meeting, the Fed kept rates steady. Powell outlined plans to taper the Fed’s balance-sheet expansion policies starting in the second quarter.Global growth looks like it is stabilizing after being a headwind on growth since mid-2018.“It is possible that this mix of positive developments and accommodative conditions could spur further growth,” he said.

“On China, the scenario that we worry about is that some combination of slower growth in China interacts with the financial fragilities there — the property market, the shadow banking market, the tremendous amount of dodgy loans — and that those two combine to lead to a financial crisis that pushes growth down a lot further,” a Fed staffer told the central bankers.

That's fed chief speak for Katy, Bar The Door. This is bad.

China will just manipulate it... As they do their people.

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