He’s alert for drags on the economy, such as weaker growth in China and Europe.
WASHINGTON — Federal Reserve Chair Jerome Powell, one of the nation’s top economic policymakers, predicted the economy is not going to plunge into a deep downturn this year.
“I don’t see a recession” in 2019, Powell said Thursday in an interview at The Economic Club of Washington, D. C. “The U. S. economy is solid and there’s good momentum going into this year.”
Several prominent economists and investors have said there’s a heightened chance of a recession by 2020. Larry Summers, a Harvard professor and former Treasury secretary, said this week that he thinks there’s “better than a 50/50 chance” of a recession in 2020.
Powell stressed that the Fed is closely monitoring potential cracks in the economy. His biggest concern is weakening growth in China and Europe, although he warned that a prolonged U.
