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The principal threat to economic growth in the United States is the economic slowdown in so many other parts of the world, Federal Reserve chairman Jerome Powell said Thursday.
During a lunchtime appearance at the Economic Club of Washington, D.C., Powell sounded optimistic about the U.S. economy but cautioned that it was unclear whether slowdowns in Asia and Europe could become a drag on the U.S.
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“The U.S. economy is solid,” Mr. Powell said. “The principal worry I would have is global growth. The question would be how much does that affect us.”
Powell pointed out that the U.S. may be more vulnerable to a slowdown in global growth because of the rise on globalized business and supply chains. Slower than expected iPhone sales in China recently knocked the price of Apple’s stock down by as much as 10...
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