Federal Reserve Chairman Jerome Powell expressed confidence in U.S. economic strength Wednesday and said markets will have to get used to the idea that the central bank could raise rates at any time starting in 2019.
During a question-and-answer session in Dallas, Powell conceded that the global economy is not growing at the same pace it was last year. But he said overall the domestic picture looks good. He described the global picture as a “gradual chipping away” at the pace of growth but said it is “not a terrible slowdown.”
“I’m very happy about the state of the economy now,” he said in an interview with Dallas Fed President Robert Kaplan. “Our policy is part of the reason why our economy is in such a good place right now.”