TELETRADER News
5/4/2022, 9:03 PM
(Source: TeleTrader)
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.