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Fed chair says US economy is set to expand

Nov 14, 2019 - City A.M.

US FEDERAL Reserve chairman Jay Powell has said he foresees a "sustained expansion" of the country's economy, in a testimony to Congress a day after US President Donald Trump ripped into the central bank in a speech.

However, Powell said if a downturn should occur then the government would need to fight it with fiscal policy. Yet he said this could be a problem because federal debt is "on an unsustainable path".

Powell also reiterated that the Fed is unlikely to cut rates again unles...