In the published message, FOMC informs that in The Economy Committee is assessed by a solid growth, inflation remains “anything high” and low unemployment. However, they noticed that there is still high uncertainty about the economy course.
The head of the Fed, Jerom Powell, talked about the details during the conference.
“The US economy opposes all forecasts indicating that it will weaken that we have seen recent years, which is unusual. Time, people repeat that it will weaken. In the end it will happen, but now we do not see any signs in a short term,” he said.
This does not mean, however, that there are no challenges before the first economy of the world. To the largest we hear all the time, there is a matter of duties that President Donald Trump introduced all over the world. Powell assessed during the conference that “uncertainty” associated with them all the time remains the main reason for keeping the feet unchanged.
“The size of the effects of customs, their duration and time that will take the appearance of these effects are highly uncertain. That is why we think that the right thing to do is to stay in the place where we are, “he said.
During the conference, Powell emphasized that customs are an inevitable increase in costs for enterprises and consumers.
“Everyone I know predict a significant increase in inflation in the coming months because of their duties, because someone has to pay for them” – said Powell.
“It will be someone from this chain, which I mentioned, between the producer, exporter, importer, retail seller, ultimately someone who will put it in some kind of good or simply a consumer who will buy it” – he said.
“In all this chain, people will not try to be those who may bear the costs, but ultimately the cost of customs must be paid. And some of this will fall on the final consumer, “said Powell.
