Powell Says Fed’s Staff Is No Longer Forecasting a Recession
07/27/2023 07:47
Federal Reserve Chair Jerome Powell said the US central bank’s staff economists are no longer forecasting a recession given recent resilience in the economic data.
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Federal Reserve Chair Jerome Powell said the US central bank’s staff economists are no longer forecasting a recession given recent resilience in the economic data.
“The staff now has a noticeable slowdown in growth starting later this year in the forecast, but given the resilience of the economy recently, they are no longer forecasting a recession,” Powell said Wednesday during a press conference following a two-day policy meeting.