2/1, 9:02 PM (Source: TeleTrader)
more TeleTrader news

Powell: Growth to continue at fairly subdued pace in 2023

Federal Reserve Chair Jerome Powell said on Wednesday that positive economic growth will continue "at a fairly subdued" pace in 2023, but insisted the US will not enter a recession.

Responding to a question on whether he thinks the US could enter a recession, Powell pointed out that most analysts agree with him that the country will be able to maintain positive growth "like it did last year."

The Fed chair once again stressed that the labor market remains strong and added that he expects sentiment to improve as inflation comes down. He also stated that, when it comes to economic growth, the "global picture is improving a bit."

Baha Breaking News (BBN) / NP