Powell says Fed will 'sustain this expansion,' bolstering hopes for interest-rate cut

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Powell says Fed will 'sustain this expansion,' bolstering hopes for interest-rate cut
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The Federal Reserve is monitoring 'significant risks' to the economy and will 'continue to act as appropriate to sustain this expansion,” Chairman Jerome H. Powell said.

Federal Reserve Chairman Jerome H. Powell said the most likely outlook for the U.S. and world economy is continued moderate growth, but the U.S. central bank was monitoring “significant risks.”

Powell’s remarks did little to change investors’ expectations for an interest-rate cut when U.S. central bankers gather in Washington on Sept. 17-18. Those expectations remained in place after the Labor Department reported that employers addedU.S. stocks remained higher and Treasuries were mixed as Powell spoke, with the S&P 500 adding to a second straight weekly gain.

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