Fed’s Jerome Powell: “The Economy Seems to be Healthy” despite negative sentiment

Rural towns across the U.S. have seen sluggish economies over the last year, with plenty of ups and downs.

Fed Chair Jerome Powell acknowledged a decline in sentiment but assures everyone the economy is on the right track.

“The economy seems to be healthy. We understand that sentiment is quite negative at this time, and that probably has to do with turmoil at the beginning of an Administration that’s making big changes in areas of policy. That’s probably part of it. I do think the underlying unhappiness people have about the economy, though, is more of the price level.”

This week, Powell announced interest rates would be holding steady for now. Inflation reports earlier this month showed promising news. Both measures of inflation came in below analyst expectations, and despite those signs, inputs are expected to remain elevated this year.

Related Stories
Weaker U.S. dairy prices come as value-added exports expand and ingredient inventories tighten, creating mixed market signals for producers.
Kip Eideberg with the Association of Equipment Manufacturers details its campaign spotlighting the people who build equipment vital to farming and food manufacturing.
Improved export prospects and higher crop prices strengthened future expectations despite continued caution about spending.
While the agriculture industry hoped details on proposed “bridge” payments for farmers would be released this week, Ag Secretary Brook Rollins said the USDA is still working with the White House on the finer points.
Federal lawyers submitted a brief this week backing Bayer’s argument that federal laws governing herbicides like Roundup should prevent lawsuits over the popular chemical.
China’s renewed purchases signal improving sorghum demand at a time when export markets are otherwise uneven. Meanwhile, agriculture groups across the U.S, Canada, and Mexico want to protect close trade relations.