Officials raised their median estimates for economic growth this year to 2.7 percent, up from 2.5 percent in December. But officials were divided, with slightly less than half indicating they expect to raise rates at least four times this year. Recent data suggest that economic growth is falling short of expectations for the first quarter. He said trade policy was emerging as an point of concern among business leaders who speak to Fed officials, but he downplayed the administration’s actions as an immediate threat to growth. “We don’t do trade policy here at the Fed,” Mr. Powell said, “and I would be reluctant to comment on any particular policy with any particular country.”

Source: New York Times March 21, 2018 18:04 UTC