Powell: QE to be used if needed, long-term outlook important

Tuesday, 25. June 2019 20:03

Quantitative easing will be used if needed to boost growth in the economy of the United States, Federal Reserve Chair Jerome Powell said on Tuesday. However, Powell pointed out that the Fed must look at the long-term and not "overreact" to "temporary factors."

Speaking at the Council on Foreign Relations in New York, the Fed chair also commented on standing against political pressures after US President Donald Trump criticized the Fed for not cutting interest rates in June. However, markets expect a rate cut in July.

In June, the Federal Open Market Committee (FOMC) kept interest rates in the US at 2.25-2.5%.

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Breaking the News / VP