gathering: Trump had suggested that a change of course would be better for the country, according to The Guardian. Powell's comments at the annual gathering of economic policymakers in Jackson Hole, Wyoming, will be viewed as a rebuke to the president. Jerome Powell, who was this week attacked by the president for failing to give him some help on the US economy, warned that steadily rising borrowing costs would be required to promote job creation and economic growth. Trump on Monday had directly attacked Powell, saying he was not thrilled with him for raising interest rates. He said the Fed's current strategy of steady rises balanced the risks between moving too quickly, which could limit economic expansion, and raising rates too slowly, which could lead to overheating. Without taking on the president's criticism directly, Powell stuck to his guns at the meeting of central bankers and academics from around the world, which is regarded as a key event for the world economy.
(news.financializer.com). As
reported in the news.
Tagged under gathering, jackson topics.