February 7, 2019 / 1:00 AM / in 3 months

Fed's Powell repeats that U.S. economy is in 'a good place'

FILE PHOTO: Federal Reserve Chairman Jerome Powell holds a press conference following a two-day Federal Open Market Committee policy meeting in Washington, U.S., January 30, 2019. REUTERS/Leah Millis/File Photo

WASHINGTON (Reuters) - Federal Reserve Chairman Jerome Powell said on Wednesday the U.S. economy remains in a good place and has proved resilient so far to shocks like the British decision to leave the European Union.

“The U.S. economy is now in a good place,” with low unemployment and inflation near the Fed’s 2 percent target, Powell said in a question-and-answer session with economics educators in Washington and telecast to Fed branches nationwide. “We’ve had some big events, some surprises like Brexit...and the system has been strong,” he said.

Reporting by Howard Schneider; Additional reporting by Jason Lange; Editing by Leslie Adler

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