While speaking at a panel organized by the Swiss Institute of International Studies (SIAF), University of Zurich, Jerome Powell, Chairman of the Federal Reserve System, noted that the FOMC was not forecasting or expecting a recession in the US.
“The most likely outcome for the US is moderate growth, the consumer is in good shape, the main expectation is not at all there will be a recession,” Powell further elaborated.
The US Dollar Index seems to be gaining traction on Powell’s optimistic remarks and was last up 0.04% on the day at 98.42.