Fed's Powell: no sign of elevated likelihood of economic downturn

Federal Reserve Chair Jerome Powell on Wednesday said he does not see any indication of a recession or even an economic downturn ahead. "I don't see anything in the economy right now that suggests that the likelihood of a recession -- sorry, of a downturn -- is elevated," Powell said in a news conference. "You see growth at a solid rate, you see inflation coming down, and you see a labor market that's still at very solid levels, so I don't really see that.

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