US-bank-economy-rate-trade-tariff Fed’s Powell: Hearing ‘rising chorus’ of concerns on trade
Washington, Sept 27 :The Federal Reserve is hearing a “rising chorus” of concerns from businesses around the country about uncertainty and rising costs due to the US trade confrontation, Fed Chairman Jerome Powell said Wednesday.
Powell told reporters “we’ve been hearing a rising chorus of concerns from businesses all over the country about disruption of supply chains, materials, cost increases, and loss of markets and things like that.”
The Fed worries about the “loss of business confidence and that can reduce investment.”
However, he said he did not see “troubling” vulnerabilities in financial markets.