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Powell, chairman of the Federal Reserve /FED, said on Thursday that the US economy did not show overheating. Meanwhile, the influential Federal Reserve Bank President Dudley of New York suggested that the pace of raising interest rates could be accelerated in 2018.
In March 1, 2018, Washington, Washington, the chairman of the Federal Reserve made a statement in the Senate Finance Committee. REUTERS/Yuri Gripas
"There is no evidence that the economy is overheating," Powell said in his second hearing this week at the Senate Finance Committee. He said he expects the Federal Reserve to continue to tighten monetary policy step by step.
Speaking at an event in St Paul, Brazil, Dudley said that raising interest rates four times this year may also be consistent with the idea of "gradual", rather than the three rise of interest rates predicted by the Federal Reserve policymakers in December.
However, the impact of the Fed officials' speech was overshadowed by President Trump. The latter announced plans to impose high import duties on steel and aluminum. Since last year's Republican government came to power, the Fed decision makers have been warning about such actions.
These actions, as well as the risk of retaliation by trading partners, may lead the US economy to Mengyin, and drag on the global recovery that now benefits the United States.
After Trump announced the decision, the US federal funds interest rate futures traders lowered their bets on the fourth increase in interest rates this year, the US shares fell sharply, the S & P 500 index.SPX fell about 1.3%, and the third consecutive day fell by more than 1%.

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