Federal Reserve Chairman Jerome Powell, in an interview with '60 Minutes,' characterized the economic outlook as favorable and dismissed the notion that President Trump could fire him for raising rates
on Sunday, characterizing the economic outlook as favorable and dismissing the notion that President Donald Trump could fire him for raising rates — although he left some worried that the central bank might not be ready for an economic downturn.
"I don’t think there was anything really new in terms of policy. That’s a good thing,” said Dan North, chief economist at Euler Hermes North America.program was significant, given that previous Federal Reserve chairs have been less willing to engage with the media. North suggested that in the interview Powell might have had a certain viewer in particular in mind. “Perhaps it was a matter of speaking to the people and to Donald Trump,” he said.
When the cost of short-term borrowing rises above the cost of long-term Treasury bonds, it has generally signaled that a recession is on the horizon — a pattern that has market observers watching those rates with trepidation, since they are hovering within a fraction of a percentage point of each other.
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