6/19, 8:35 PM (Source: TeleTrader)
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Powell: Case for more accommodative policy has strengthened

Chairman of the Federal Reserve Jerome Powell said on Wednesday that despite the favorable baseline outlook, the case for a more accommodative policy has strengthened since the May meeting due to rising risks related to trade and global growth which negatively affected business confidence.

In the second quarter, economic growth slowed, Powell pointed out, as risks of less favorable outcomes have risen. The Fed will continue to closely monitor implications of incoming information to the economic outlook, the policymaker stated.

In regards to inflation, the central banker expects it could rise, despite still being lower than the target of 2%. Weaker global growth may also continue to keep inflation down around the world, he added.

Breaking the News / NI