The Federal Reserve can be patient in raising rates, Federal Reserve Board Chair Jerome Powell said Thursday, and he doesn’t expect the economy to go into recession in the near term.
Andrew Harrer/Bloomberg
“The good thing is we’re in a place where we can be patient and flexible and see what evolves, and I think for the meantime we’re waiting and watching,” Powell told the Economic Club of Washington, D.C.
Powell said he doesn’t see elevated risks of a recession in 2019, although he is worried about slowing global and how it will impact the U.S. economy.
Inflation will remain near 2%, he predicted.
