Fed Chairman: Economy Grows ‘Considerably Stronger’ Than Expected

By 1600 Staff

The Federal Reserve may be looking to raise interest rates soon on the heels on so amazing economic growth indicators.

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According to CNBC:

The U.S. economy is running at a fast enough pace to justify continued interest rate increases, Federal Reserve Chairman Jerome Powell said Tuesday. Powell is delivering his semiannual testimony to Congress this week, starting with an appearance Tuesday before the Senate Committee on Banking, Housing and Urban Affairs.

In remarks he provided ahead of a question-and-answer session, Powell painted a largely positive picture of the economy, which he said is expanding at an increasing pace and is being boosted by aggressive fiscal policy on Capitol Hill. “Overall, we see the risk of the economy unexpectedly weakening as roughly balanced with the possibility of the economy growing faster than we currently anticipate,” Powell said.

“The unemployment rate is low and expected to fall further. Americans who want jobs have a good chance of finding them,” he added. Powell spoke as the central bank is in the process of gradually raising interest rates. The policymaking Federal Open Market Committee has hiked the Fed’s benchmark rate twice this year in quarter-point increments, and is expected to approve two more increases before the end of the year.

The economy is growing faster than the Federal Reserve anticipated. This is positive news for the deficit, the debt, and for jobseekers who have weathered a decade of weak economic growth. The good news is a welcome relief form the daily drumbeat of bad news, and shows that President Trump’s economic policies are working to make America great again.

RELATED: Obama-Era Jobseekers Go Back To Work

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Tony Winters
Tony Winters
2 years ago

Its a good thing that President Trump is such an awful president, just imagine what would happen if he really knew what he was doing. He has done more to rebuild this country by accident then obama and his Socialist Regime did on purpose to destroy the country.
God Bless America and Our Men and Women in Uniform

Albert E Gardner MD
Albert E Gardner MD
2 years ago
Reply to  Tony Winters

Wow, what an awesome statement, I totally agree.
God bless America, President Trump and all our Men and Women in the military.
He has done more to bring peace to the world than anyone!!

Jo Roger
Jo Roger
2 years ago

I thought we were supposed to get used to horribly low growth? That’s what the last president said.

Albert E Gardner MD
Albert E Gardner MD
2 years ago
Reply to  Jo Roger

Awesome statement
Trump is the best

Dennis Siebert
Dennis Siebert
2 years ago
Reply to  Jo Roger

I don’t believe George Bush said that. Oh, yeah, there was another occupant of the White House after Bush, but I would hardly call him a President. More like a Disaster in Chief, wouldn’t you say?

Albert E Gardner MD
Albert E Gardner MD
2 years ago

Just an awesome statement.President Trump has done more to bring peace to the world than anyone in the last century
od Bless America

Deb Bundy
Deb Bundy
2 years ago

Federal Reserve needs to be abolished!!! Globalist we don’t know are governing our economey. Pres Trump isn’t playing by their rules and destroying our economy like all the past puppets. Wake up people…time to run them and the UN out of our country.

Charles King
2 years ago

I think the Fed ought to seriously consider the very high cost, and very weak supply of affortable housing before making a desision to increase interest rates! Although doing well, increased borrowing costs will push home ownership away from many with even microscopic interest hikes.

Bill Turney
Bill Turney
2 years ago

Libs, bad news!

Jeff
Jeff
2 years ago

God Bless You President Trump! Keep doing such a terrible job, LOL! I hate winning too! NOT!

Steven B Coy
Steven B Coy
2 years ago

TRUMP, I WANT YOU TO REMEMBER THE FAMOUS QUOTE FROM OUR PAST PRESIDENT THE ILLEGAL NOT BLACK HALF BREED SUNNI MUSLIM TRAITOR OBAMINATION SAID “CAPITALISM DOES NOT WORK” , YOU DIDN’T LISTEN AND NOW YOU HAVE MADE HIM THE FOOL THAT HE REALLY IS AND WHY HAVEN’T YOU PROSECUTED HILLARY, OBAMINATION AND THE MUSLIM BROTHERHOOD CARD CARRYING ABEDIN MUSLIM FOR TREASON AND ESPIONAGE ??????????????????????

SlipperCity
SlipperCity
2 years ago

Build that wall, then talk about the rest. What about e-verify? THE WALL COMES FIRST! GOD BLESS PRESIDENT TRUMP!

Sfengr
2 years ago

Trump is an executive that has surrounded himself with experts that know how to strengthen the economy. He is a superior manager that allows his people to execute the plan.

Keith B Denney
Keith B Denney
2 years ago

SSSOOO 1.9 gdp is NOT the new normal!!! Who’d a thunk it???? Remember Demon Rats want to STOP THIS!!!!

N
N
2 years ago

Get off the corrupted to the core NAZI Demoncrat Communist plantation treasonous party (RINOs too!!! You know who you are!, So Get ready to lose your seats) and on the Trump train to success!!!!!!!!!!!!!!

Heidi Oelgart
Heidi Oelgart
2 years ago

God Bless this country and our fearless leader President Trump – and all the men and women in uniform that keeping us SAFE. Love this country and salute to my favorite President – Donald J Trump – keep it going – move along,
Your Fan – deplorable
Heidi O

N
N
2 years ago

Keep up the great work President Trump! The best President ever!