Expansion Powell: Labor Market and Friday Afternoon

expansion powell: In a question-and-answer session in Zurich, Powell said the outlook for the economy remains favorable, describing the future as one likely to reflect continued moderate economic expansion, according to Market Watch. Powell said the central bank is not forecasting or expecting, a recession. Federal Reserve Chairman Jerome Powell said Friday afternoon that the most recent monthly gauge of the U.S. labor market fit into an overall picture of a healthy jobs market and economy. Incoming data for the U.S. suggests that the most likely outlook for the U.S. is still moderate growth, a strong labor market, and inflation continuing to move back up, he said. Read Weaker job report in August cements' a Fed interest-rate cut in two weeks In one comment that some watchers could interpret as dovish, or accommodative, Powell said the Fed was worried about inflation getting too low, suggesting that the central bank may act to bolster stubbornly low inflation. Repeating his message from Jackson Hole, Wyo., Powell said there are significant downside risks facing the economy and said the Fed is going to monitor all these factors. (news.financializer.com). As reported in the news.