Fed Chair Says He Doesn’t See a Recession Coming

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RUSH: Oh, man, this is going to infuriate the Democrats. This is going to infuriate the American left. Jerome Powell just said — he’s the guy that runs the Federal Reserve — he just said the U.S. consumer is in good shape and the Fed is not expecting a recession.

Now, the Democrats have spent the last two weeks trying to talk this country into a recession. And now the Federal Reserve chairman comes out and says the American consumer is in good shape. Obviously, so the American consumer has more disposable income. The American consumer’s wages are rising. The American consumer has his pick of jobs. There is no recession. The Fed sees no recession. The Democrat Party, for the last two weeks, CNN, the Drive-By Media, have been trying to talk the American people into a recession.

BREAK TRANSCRIPT

RUSH: This afternoon in Zurich, University of Zurich, Fed Chairman, Jerome Powell spoke. Unidentified moderator said, “Recession fears, how worried should we be about an upcoming U.S. recession?”

POWELL: We’re not forecasting or expecting a recession. Incoming data for the United States suggests that the most likely outcome, outlook for the United States’ economy is still moderate growth, a strong labor market and inflation continuing to move back up. The labor market continues to strengthen, so the consumer’s in good shape and really there’s – there’s — our main expectation is not at all that there’ll be a recession. I wouldn’t see a recession as the most likely outcome for the United States, or for the world economy, for that matter.

RUSH: It’s just undercutting the Democrats and the media. For the last two weeks or longer, they have been trying to talk everybody into a recession, telling us we’re in one, we’re at the beginning of one, that it’s going to happen no matter what we do. And their old buddy, the Fed chairman, just yanks the rug right out from underneath them.

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