Powell Says No Near-Term Risk of Recession - Barron's

Powell Says No Near-Term Risk of Recession

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Last Updated:
March 6, 2024 at 2:20 PM EST Live Coverage Feed

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Jerome Powell, chairman of the US Federal Reserve, at the House Financial Services Committee hearing in Washington, D.C. (Tierney L. Cross/Bloomberg)

Fed Chair Jerome Powell doesn’t see any elevated risks of the U.S. falling into a recession in the near term.

In responding to a question from Rep. Al Green (D-Texas), Powell said “there's no evidence or no reason to think that the U.S. economy is in some kind of short-term risk of falling into recession.”

Powell noted that gross domestic product growth was in excess of 3% last year, and in the first couple of months of 2024 has shown “continued solid growth.” He expects the U.S. will continue to see growth at a “solid pace.”

While noting that there’s always a chance an economy will experience a recession, Powell said that possibility isn't currently elevated.