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.
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.
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
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!!
I thought we were supposed to get used to horribly low growth? That’s what the last president said.
Trump is the best
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?
Just an awesome statement.President Trump has done more to bring peace to the world than anyone in the last century
od Bless America
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.
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.
Libs, bad news!
God Bless You President Trump! Keep doing such a terrible job, LOL! I hate winning too! NOT!
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 ??????????????????????
Build that wall, then talk about the rest. What about e-verify? THE WALL COMES FIRST! GOD BLESS PRESIDENT TRUMP!
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.
SSSOOO 1.9 gdp is NOT the new normal!!! Who’d a thunk it???? Remember Demon Rats want to STOP THIS!!!!
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!!!!!!!!!!!!!!
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
Keep up the great work President Trump! The best President ever!