The fed said the growing risks for the economy

©Здание the U.S. Federal reserve in Washington. Archival photoThe fed said the growing risks for the economy©

Risks associated with the trade policy of the United States, increase, but does not currently affect the U.S. economy, which is showing good results, said during a press conference, the fed’s Jerome Powell.

In March it became known that Washington imposes duties in respect of imported U.S. steel and aluminium — 25% and 10% respectively. In relation to the EU, Mexico and Canada the decision was introduced with effect from 1 June.

«We are in constant contact with other world Central Banks, and I can say that the concern (in connection with the new trade policy of the United States) increases. We don’t see it in the figures of economic growth, which is in excellent condition, but the risks grow,» said Powell.

«Today’s rate hike confirms that the economy is in excellent condition… but if inflation rises above the 2% target, we can adjust it with rates,» he added.

Powell also promised that now he will give a press conference at the end of each session, and not as earlier – once a quarter.

The U.S. Federal reserve following the meeting on March 12-13, raised the benchmark interest rate by 0.25 percentage points to 1.75-2% per annum. Most members of the open market Committee of the fed on the results of the June meeting forecast four to increase the base rate in 2018 (subject to increase at the meetings in March and June), to the average level of 2.375%, follows from the economic Outlook of the regulator.

The fed also raised its forecast for growth in the US economy in 2018 to 2.8% expected in March to 2.7%. The forecast on the dynamics of inflation for the current year increased to 2.1% from 1.9%. Unemployment forecast lowered to 3.6% from 3.8% expected.