Fed chief Jerome Powell says he does not expect a recession

[Yo_Mama_Been_Loggin]

Federal Reserve Chairman Jerome Powell said Friday he doesn’t "at all" expect the U.S. to enter a recession, though he hinted the central bank will likely cut interest rates as expected this month.

“Our main expectation is not at all that there will be a recession,” Powell said in a panel discussion at the University of Zurich.

“The U.S. economy has continued to perform well and is in a good place," he said.

He added, however, that the U.S. trade war with China -- which has been spearheaded by President Trump -- has generated business uncertainty that, along with a slowing global economy, raise the risks of a downturn. As a result, he said, “We’re going to continue to act as appropriate to sustain this expansion.”

https://www.msn.com/en-us/money/markets/fed-chief-jerome-powell-says-he-does-not-expect-a-recession/ar-AAGUmto?li=BBnbfcL

So why then did we need a rate cut other than the fact that fat ass Trump was whining for one?

[Kurt V.]

1. i agree with powell. Cyclical industries are a smaller part of gnp than in the past.