WASHINGTON - US Federal Reserve chief Jerome Powell said on Friday he does not expect the US or global economy to enter a recession, despite risks to the econonomic outlook, in part stemming from uncertainty over trade policy.Instead, Powell said he expects the US economy to see moderate growth.
Powell said the Fed would"act as appropriate to sustain this expansion" and stressed that the central bank was committed to its 2 per cent inflation target. He believed the labour market and US consumers were in good shape. Employment data released Friday showed the US jobless rate holding steady at 3.7 per cent but a weaker pace of job creation, with wages also rising more slowly.
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