Fed watching trade developments, Powell says
The Federal Reserve is watching developments in the international trade area closely and will act "as appropriate" in order to sustain the economic expansion, its chairman, Jerome Powell, said.
In remarks prepared for the Federal Reserve bank of Chicago's conference on monetary policy, Powell said: "We do not know how or when these issues will be resolved.
"We are closely monitoring the implications of these developments for the US economic outlook and, as always, we will act as appropriate to sustain the expansion, with a strong labor market and inflation near our symmetric 2% objective."