国际英语资讯:Feds Powell says trade tensions weigh on U.S. economy_时事

国际英语资讯:Feds Powell says trade tensions weigh on U.S. economy

Powell reiterated a statement he made after the FOMC meeting in June that the Fed will act as appropriate to sustain the current economic expansion.

"Since then, based on incoming data and other developments, it appears that uncertainties around trade tensions and concerns about the strength of the global economy continue to weigh on the U.S. economic outlook. Inflation pressures remain muted," he added.

Powell was later asked by Carolyn Maloney, Democratic representative from the state of New York, if the Fed considers a half-percentage-point lowering of the benchmark interest rate during the July 30-31 FOMC meeting.

Powell responded by saying "we'll be looking at a full range of data," without offering any other clues.

President and founder of MacroPolicy Perspectives Julia Coronado, who is a former Fed economist, tweeted as the hearing was still going on that Powell's oral testimony "confirms" that a 25 basis point rate cut "is coming in July."

The central bank chief in his testimony also warned of "important longer-run challenges" which he said the United States "continues to confront."

Those challenges, Powell said, include lower labor force participation by working-age people in the United States than most other nations with comparable economies, labor market disparities across demographic groups and different parts of the country, the relative stagnation of middle and lower incomes and low levels of upward mobility for lower-income families, the high priority to boost productivity growth, as well as the longer-term effects of high and rising federal debt.