5/4/2022, 9:03 PM (Source: TeleTrader)
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Powell still doesn't think recession will happen

Federal Reserve Chair Jerome Powell said on Wednesday that he doesn't think the United States' economy will enter a recession.

"It's a strong economy and nothing about it suggests it is close to, or vulnerable to, a recession," Powell said to the press during a conference after the central bank's monetary policy meeting.

He went on to admit that the economic activity might temporarily slow down, and forecasted that the bounce-back will "definitely" not be as strong as that seen in the post-pandemic period.

Baha Breaking News (BBN) / BU