Powell Excerpt: Trade Policy Impact Not Seen In Numbers Yet

     WASHINGTON (MNI) - The following is a response of Federal Reserve Chairman

Jerome Powell to a question from a reporter at his press conference following

Wednesday's Federal Open Market Committee meeting.

Question: Would you expand on the -- on your views on the downside risks --

downside risks, especially in regard to our trade issues? Many people are in the

-- key allies of the United States are concerned that the United States may

destabilize the underpinnings of the international order the United States has

created and built up in the post-war environment, so that will, of course, have

a very negative economic implications for the global economy as well as the U.S.

economy, so would you have -- can I have your views on that?

Powell:  Sure. So as I mentioned earlier, I'm really committed to staying in our

lane on things. We have very important jobs assigned to us by Congress, and

that's maximum employment, stable prices, financial stability. Trade is

explicitly assigned to the executive branch by Congress and not to us, so we

don't really seek to play a role in trade policy. We're not at that table. Those

powers and decisions are given to others, and so we want to stick to what we do,

and as I mentioned earlier, we do hear from our business contacts, which are

extensive in the United States, and we do report on that in the minutes, and

I've just mentioned what those are. There's concern that trade changes could be

disruptive, and as I also mentioned, we don't see it in the numbers yet, we

really don't. We see a very strong economy across a bunch of fronts. It's not

for everyone, but most people who want to find a job -- there are people who

have not felt the recession yet, but broadly speaking, it's a good economy.

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

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