WASHINGTON — Federal Reserve Chairman Jerome Powell says the U.S. economy should keep expanding at a solid, though somewhat slower pace this year. The Fed in December indicated it could hike rates two times this year. Powell said that the economy grew at a strong pace last year, with employment and inflation remaining close to the Fed’s goals. “Financial markets became more volatile toward year-end, and financial conditions are now less supportive of growth than they were earlier last year,” Powell said. Some private analysts are forecasting that the Fed’s next move could be a rate cut in 2020 as the central bank confronts a slowing economy.

Source: National Post February 26, 2019 14:49 UTC