“There is nothing in the US economy that would be an obvious threat to the US economy in the short term. There is no sector or segment that is seething and overheating. Nothing. The economy inside is healthy. Negative risks come from abroad, ”RIA Novosti quotes Powell as saying.

Earlier, the Fed decided to lower the base rate to 1.75–2% from 2–2.25%.

U.S. President Donald Trump later accused Powell of lack of courage and foresight.