US economy 'quite resilient,' Fed Chair Jerome Powell says
The remarks come two weeks after the Federal Reserve left interest rates unchanged. Federal Reserve Chair Jerome Powell on Wednesday voiced an optimistic message about the U.S. economy and downplayed the threat of a recession. "The U.S. economy has actually been quite resilient ," Powell said in Sentra, Portugal, at a conference organized by the European Central Bank. While acknowledging that a recession is "certainly possible," he said such an outcome is "not the most likely case." "The economy is resilient and still growing, albeit at a modest pace," he added. MORE: Federal Reserve 'very far' from inflation goal, Fed Chair Jerome Powell says The remarks arrived two weeks after the Federal Reserve paused its aggressive series of interest rate hikes, ending a string of 10 consecutive rate increases that stretched back 15 months. The Federal Reserve has aimed to roll back price increases by slowing down the economy and slashing consume...