Powell: the economy is in a good shape


The American economy is still in good shape despite some risks. That is what President Jerome Powell of the American umbrella of national banks, the Federal Reseve, said. He did not give many indications as to whether a new interest rate cut would be coming soon. In general, economists do count on that.

Powell pointed to low unemployment and inflation close to the 2 percent target. The Fed boss did not refer in detail to the job report released earlier in the day. In addition to a historically low unemployment rate, it also emerged that job growth slowed and that the average hourly wage remained the same.

Powell acknowledged that “not everyone fully participates in economic opportunities.”

By: Leah Kunze

Leah Kunze just graduated MBA and is proud of it. She is interested in automotive industry and innovations. She well be glad to receive a mail to leah.kunze@economicinform.com

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