Fed Chairman Powell Touts Economy’s Strength in First Speech
Supported by Economy Fed Chairman Powell Touts Economy’s Strength in First Speech Photo Jerome H. Powell, the Federal Reserve chairman, testifying before the Senate Banking Committee in March. Economists and analysts are looking for signs of how a potential trade war will affect the Fed’s plans to continue gradually raising interest rates this year. Credit Erin Schaff for The New York Times CHICAGO — Jerome H. Powell used his inaugural speech as Federal Reserve chairman on Friday to highlight the strength of the United States economic recovery, offering no hint that recent concerns over a potential trade war will affect the Fed’s plans to continue gradually raising interest rates this year.
Mr. Powell, in prepared remarks for a speech before the Economic Club of Chicago, said that the economy continued to experience tailwinds and that “the labor market remains strong, and my colleagues and I on the Federal Open Market Committee expect it to remain strong.”
He said the Fed saw “oth..