Powell says U.S. economy was hit by 'confidence shock' - it has only partly recovered
Thursday, 11 July 2019 23:00 WIB | FISCAL & MONETARY |The FedFiskal & Moneter

Federal Reserve Chairman Jerome Powell said Thursday that the U.S. economy was hit by a severe œconfidence shock in May from which it has only partly recovered.

œYou saw business confidence surveys¦quite negative, fairly broadly, Powell said, in testimony to the Senate Banking Committee.

œSome of that has recovered, but only after the Fed œstepped forward and said it was willing in lower interest rates, Powell said.

The Fed chairman™s comments answer the question of why the central bank seems poised to ease monetary policy as soon as the end of the month.

In his testimony to the House on Wednesday, Powell set the stage for a rate cut as early as the end of this month, saying trade uncertainties and global growth were weighing on the economy.

Source: marketwatch

RELATED NEWS

Fed Chief Powell Says He Thinks Core Inflation Picked Up a Bit in June
Wednesday, 17 July 2019 00:16 WIB

Federal Reserve Chairman Jerome Powell said Tuesday that the central bank now estimates that a key measure of core inflation increased in June to its highest level in four months but added that, despite the acceleration, inflation pressures œremain muted. In a speech to the Bank of France in P...

RBA Monitoring Job Market Closely, to Adjust Rates If Needed
Tuesday, 16 July 2019 08:53 WIB

Australia's central bank is focused on the jobs market and said it will adjust policy if needed to support economic growth and keep inflation on track to return to target. In minutes of its July 2 meeting, when it cut interest rates for a second month to a record-low 1%, the Reserve Bank noted wage...

'Many' Fed Officials Said in June They'd Be Willing to Cut Interest Rates if Uncertainty Still Weighs on Outlook, Minutes Show
Thursday, 11 July 2019 01:18 WIB

Many Federal Reserve officials said in their meeting in June that they would be willing to cut interest rates if the economy continued to struggle in coming weeks, according to minutes of the discussion released on Wednesday. Officials appeared caught off guard in mid-June about sudden "significant...

Powell speech: Weak inflation could be even more persistent than Fed currently anticipates
Wednesday, 10 July 2019 21:00 WIB

In his prepared statement to be delivered at his semi-annual testimony to the Congress, Jerome Powell, Chair of the Board of Governors of the Federal Reserve System, reiterated that the Fed will act 'as appropriate' to sustain the U.S. economic growth. With the initial reaction to Powell's statemen...

Powell speech: No comments on the policy outlook
Tuesday, 9 July 2019 20:55 WIB

In his prepared remarks delivered at the Stress Testing Conference organized by the Federal Reserve Bank of Boston, Jerome Powell, Chair of the Board of Governors of the Federal Reserve System, didn't comment on the monetary policy outlook or the economy's state. There won't be a Q&A session an...

ANOTHER NEWS
Brother of Manchester Bomber Extradited from Libya to Britain
Thursday, 18 July 2019 23:36 WIB The brother of the suicide bomber responsible for killing 22 people at an Ariana Grande concert in Manchester has been extradited from Libya to Britain. Hashem Abedi, 22, was arrested after he landed at a London airport on Wednesday. Salman...

DISCLAIMER

Seluruh materi atau konten yang tersaji di dalam website ini hanya bersifat informatif saja, dan tidak dimaksudkan sebagai pegangan serta keputusan dalam investasi atau jenis transaksi lainnya. Kami tidak bertanggung jawab atas segala akibat yang timbul dari penyajian konten tersebut. Semua pihak yang mengunjungi website ini harus membaca Terms of Service (Syarat dan Ketentuan Layanan) terlebih dahulu dan dihimbau untuk melakukan analisis secara independen serta memperoleh saran dari para ahli dibidangnya.