The Federal Reserve trimmed interest rates by a quarter point, bringing the target rate range to 4.5% to 4.75%. Fed Chair Jerome Powell said he was “feeling good” about the economy. He also said he would not step down from his post if President-elect Donald Trump asked him to do so.
The rising U.S. deficit and overall fiscal policy remain headwinds to the economy, Federal Reserve Chair Powell said Thursday.
“The federal government’s fiscal path, fiscal policy, is on an unsustainable path,” Powell said. “The level of our debt relative to the economy is not unsuitable, the path is unsustainable.
“And we see that in a very large deficit, you’re at full employment [and] that’s expected to continue, so it’s important that be dealt with,” Powell added. “It is ultimately a threat to the economy.”
— Brian Evans
During a press conference Thursday afternoon, Powell said he would not step down from his position as Fed chief even if President-elect Donald Trump asked him to.
“No,” …