Fed Chair Jerome Powell Says Economic Growth Is Weakening

In his opening testimony at today's House Financial Services Committee, Federal Reserve Chair Jerome Powell says the U.S. economy's growth is slowing and inflation remains below the Fed's two percent target. Mr. Powell says the slowed growth – particularly in business investment – is global in nature and is at least partially induced by concerns over trade. He says recent data was encouraging the Fed to look at ways to encourage continued economic growth. close