He cited three constraining factors: a global slowdown, geopolitical uncertainty and tighter financial conditions.
The U.S. economy is heading into a"new normal" of slower growth that likely will keep monetary policy restrained, New York Federal Reserve President John Williams said Wednesday.
"Now, I know this talk of slowing growth is causing uncertainty, some hand-wringing, and even fear of recession. But slower growth shouldn't necessarily come as a surprise," Williams said in prepared remarks."For quite some time, the economic fundamentals have pointed to GDP growth much lower than what we saw in the 1990s, for example."
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Yellen warns of corporate distress, economic falloutNEW YORK (LPC/IFR) - Former Federal Reserve (Fed) Chair Janet Yellen warned on T...
Read more »
Fed may need time to have clarity on US economy: RosengrenIt may take the Fed several meetings before it has a clear read on the economy, a top Fed policymaker said.
Read more »
Fed's Clarida emphasizes 'patient' approach to further rate hikesThe remarks reflected recent Fed commentary that officials will take a patient approach to monetary policy.
Read more »
House plays politics with Fed chief's testimony - Reuters TVFederal Reserve Chairman Jerome Powell has to avoid falling into any political pitfalls during his second day of congressional testimony as he appeared before the Democratic-led House Financial Services Committee.
Read more »
How Donald Trump and the Fed could ignite a ‘shock and awe’ market rallyJPMorgan’s Adam Crisafulli has high hopes for the market, but only if the powers-that-be make the necessary moves.
Read more »
Fed to stop shrinking portfolio this year, Powell saysThe Federal Reserve will stop shrinking its $4 trillion balance sheet later this...
Read more »
Fed settles for big balance-sheet futureChairman Jay Powell told Congress that the U.S. central bank would stop running down its assets this year. That means holding at least $3.5 trillion, four times the pre-crisis figure. That’s not the “normalization” many were looking for – but there are reasons for it.
Read more »
Fed Chief Jerome Powell Says U.S. Economy ‘Is in a Good Place’Jerome Powell said the U.S. economy is doing well, but he highlighted risks to growth that prompted the central bank to signal it is done raising interest rates for now.
Read more »