Federal Reserve chair Jerome Powell. File photo: AP
Federal Reserve chair Jerome Powell. File photo: AP

Federal Reserve will continue to raise rates gradually, says Jerome Powell

Federal Reserve chairman Jerome Powell was upbeat about the US economy, noting that job creation remained strong and inflation was right around the Fed's 2% target

Washington: The Federal Reserve will continue to raise rates gradually as the economic outlook remains strong despite uncertainty over trade policy, Federal Reserve chairman Jerome Powell said Tuesday.

Powell was upbeat about the US economy, noting that job creation remained strong and inflation was right around the Fed’s two percent target.

However, in his prepared testimony, he acknowledged it was “difficult to predict the ultimate outcome of current discussions over trade policy.

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