Federal Reserve Chair Jerome Powell has taken a glass-half-full view of the U.S....
WASHINGTON - Federal Reserve Chair Jerome Powell has taken a glass-half-full view of the U.S. economy but the trouble may be that the glass has gotten smaller and has a few cracks.
“Our broad view is that the global economy has a lower speed limit that is setting in,” and which may constrain the United States even if the trade war eases, he said. In October, at his last press conference, Powell spoke of “the makings of a possible settlement” in the United State’s trade dispute with China. Other sources of trouble, such as the possibility of a disruptive “hard” departure of Britain from the European Union, also seemed less threatening.
Yet, as with the up-and-down negotiations over Brexit - still unresolved and with the country’s political leadership now up for grabs - the weeks since Powell’s last press conference have shown how shaky any forecast may be that depends on elected officials to lower “political risk.”
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