Powell’s Fed hiked rates four times last year and projections from its Dec. 19 meeting show officials expect two more hikes in 2019. Data released earlier on Friday showed US employers added the most workers in 10 months as wage gains accelerated. Powell called the employment figures a “very strong report” and showed no concern about the advance in wages. Trump has criticized the Fed chief for raising rates, and Bloomberg News reported December 21 that the president had discussed firing Powell. “We have unemployment remaining below 4 percent for nine months now, one of the longest periods since the mid-1960s,” Powell said.

Source: Mint January 04, 2019 17:15 UTC