US Federal Reserve Board Chairman Jerome Powell speaking during a news conference on May 1, 2019 in Washington, DC. Photo: Getty Images/AFP
The US Federal Reserve is inching toward a cut in interest rate as Trump’s trade war with China tests financial markets’ patience
- In separate comments on Tuesday, Fed chairman Jerome Powell and his No. 2, Richard Clarida, reassured nervous investors that they are watching closely for signs that trade war is denting the outlook for the world’s economy
- Their remarks moved the Fed slightly closer to its first rate cut since 2008
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US Federal Reserve
US Federal Reserve Board Chairman Jerome Powell speaking during a news conference on May 1, 2019 in Washington, DC. Photo: Getty Images/AFP