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Powell reiterated his view when testifying in Congress for the second day in a row that the current economic growth seems to be sustainable, and there is little sign that the economy will decline immediately, although the long-standing trade war between the United States and China continues, corporate investment slows down and the overseas economy is weak.
"Today, the U.S. economy is a bright spot," Powell told the House Budget Committee. "We are growing at a rate of 2%, which is just in this range, higher than any other developed economy. There is no reason why this trend cannot continue. "
Asked if any excess would threaten economic expansion, Powell said: "look at the current economic situation, no sector will turn from prosperity to recession."
"It's a pretty sustainable picture."
The U.S. economy has entered its 11th year of expansion, although this year's growth has slowed down compared with 2018, as the tax cuts carried out by Trump's Republican government at that time accelerated economic activity. In the third quarter of this year, the U.S. economy grew 1.9% year-on-year, down from 3.4% a year earlier.
US manufacturing activity has been hit by tit for tat tariffs between the US and China, as well as weak demand in overseas markets, adding to uncertainty. Corporate investment has been a net drag on GDP growth for the past two quarters.

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