MNI TRANSCRIPT: Powell on Growth

     WASHINGTON (MNI) - The following is the portion of a transcript from

Federal Reserve Chairman Jerome Powell's press conference after the FOMC meeting

Wednesday:

     Q: You are talking about how the lower rates of affected consumer. Less

potency on the business side, that you are in effect pushing on a string?

     A: Monetary policy works through the channels that we understand. The

affects are clear of what we think interest rate sensitive sector. I think it is

-- I think interest rates are a factor in business investment but I don't

believe they are the main factor, main driver. And I think we know what one

would like to see for to support greater manufacturing activity business

investment and exports would be a global recovery and a lot of monetary policy

accommodation and fiscal accommodation maybe in the global economy now. Not here

but perhaps elsewhere. And that should turn -- that should support growth in the

global economy and again resolution of our trade issues would contribute to that

over time as well.

--MNI Washington Bureau; +1 202 371 2121; email: brooke.migdon@marketnews.com

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