Powell assures US economy stable, inflation control progresses ...Iraq

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Powell assures US economy stable, inflation control progresses
Shafaq News/ OnTuesday, US Federal Reserve Chair Jerome Powell confirmed that the US economywill not face a recession or major economic turmoil.Speaking at the Economic Club ofWashington, Powell said he thinks a “hard landing” for the US economy was not“a likely scenario.”Powell remarked that thesecond-quarter US inflation readings "add somewhat to confidence" ina sustainable return to the Fed's target pace of price increases. His commentssuggested that the possibility of interest rate cuts may be on the horizon."In the second quarter,actually, we did make some more progress on taming inflation,” Powell said,adding, "We've had three better readings, and if you average them, that'sa pretty go

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