Fed Chair Powell: The Economic Outlook

Testimony from Fed Chair Jerome Powell Before the Joint Economic Committee, U.S. Congress, Washington, D.C.: The Economic Outlook . Excerpts: The U.S. economy is now in the 11th year of this expansion, and the baseline outlook remains favorable . Gross domestic product increased at an annual pace of 1.9 percent in the third quarter of this year after rising at around a 2.5 percent rate last year and in the first half of this year. The moderate third-quarter reading is partly due to the transitory effect of the United Auto Workers strike at General Motors. But it also reflects weakness in......(read more)

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