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July 12, 2019

Powell sends further signals of future rate cuts

By MARTIN CRUTSINGER
AP Economics Writer

WASHINGTON — Federal Reserve Chairman Jerome Powell, testifying for a second day before Congress, said Thursday that the economy is in a “very good place” despite headwinds and that the Fed is prepared to do what it can to “keep it there.”

Powell's comments before the Senate Banking Committee strengthened the message he had sent to a House panel on Wednesday that the central bank is prepared to cut interest rates to support economic growth.


 
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