Powell says Fed may cut interest rates; Trump lashes out
Powell's speech follows China's new tariffs announced earlier Friday
- August 23, 2019 August 23, 2019
- 13:58
Powell's speech follows China's new tariffs announced earlier Friday
Fed set to cut key rate for the first time since the Great Recession
This is down from a 3.1% gain in the first quarter
The consumer price index increased 1.6% in June from a year earlier, the second straight monthly drop
Fed chair says trade tensions and slowing global growth have weighed on the economy
Powell will testify before Congress next week
But gains are expected to be smaller the rest of the year
The Fed chair did not commit to a rate cut but said the central bank will closely monitor incoming data
Trade tensions and other uncertainties could lead to a cut in the future
Productivity growth more than doubled from Q4 2018