Fed's Powell speaks before the House Budget Committee.

Author: Greg Michalowski | Category: Central Banks

Q&A highlights today from Fed Chair Fed Powell.

  • US debt growing faster than economy. That is unsustainable
  • Labor force participation is a pressing US issue
  • Need an economy that is growing faster than the debt
  • Ultimately the United States will have to get on a sustainable debt path
  • Trade tensions have contribute to manufacturing recession this year
  • Risk of spillover from trade tension is something they monitor, but is not impacting the broader economy
  • Effects of tariffs are not currently that large in context of the whole US economy
  • Consumers are driving the US economy
  • People at the lower end of the wage scale have gotten the bulk of the benefits
  • well-financed infrastructure can contribute to increasing productivity and US economy
  • investment in infrastructure could be very helpful for US economy
  • Fed has less room to cut in low rate environment
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