Jerome Powell speech: Base case is Chinese growth will stabilize; no recession seen in Europe

Jerome Powell, Chair of the Board of Governors of the Federal Reserve System, is now responding to questions from the press, with key quotes found below.

• Underlying economic fundamentals are still very strong.
• Financial conditions are more accommodative than a couple of months ago.
• Base case is Chinese growth will stabilize; no recession seen in Europe.
• Tariffs may be a factor in China but not main factor.
• For U.S. economy, hearing concerns about tariffs but hard to say how much an effect this is having.

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About Jerome Powell (via Federalreserve.gov)

Jerome H. Powell took office as Chairman of the Board of Governors of the Federal Reserve System on February 5, 2018, for a four-year term. Mr. Powell also serves as Chairman of the Federal Open Market Committee, the System's principal monetary policymaking body. Mr. Powell has served as a member of the Board of Governors since taking office on May 25, 2012, to fill an unexpired term. He was reappointed to the Board and sworn in on June 16, 2014, for a term ending January 31, 2028.