6/13/2018, 8:55 PM (Source: TeleTrader)
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Powell: Trade tensions pose risk to economy

A potential trade war of the United States with partners like China and its allies from the G7 is "more of a risk," Federal Reserve Chairman Jerome Powell said at a press conference on Wednesday.

He noted the Fed is hearing reports of concerns about trade policy and added there are indications that companies are holding off decisions on hiring and investments on fears of worse international trade relations. However, Powell stressed none of that is showing in the current data.

Commenting on 3% growth expected by the White House, the chair said the figure was "reasonable" and added the Fed will keep watching the economy and hoping that the tax reform will increase growth.

Breaking the News / VP