FX.co ★ US economy looks resilient amid external threats

The US economy is known to be the largest in the world. Recently, it has also proved to be one of the most resilient. The US GDP has been growing for eleven years in a row. It is the longest rise of the indicator in the history. Moreover, Federal Reserve Chairman Jerome Powell supposes that the country’s economy is likely to expand further. The US is able to resist external threats due to robust economic activity within the country, high salaries as well as great purchasing power and strong labor market. Powell said that while the “global headwinds had intensified last summer,” the economy proved to be resilient. The US GDP growth remains steady even amid almost global trade war and the coronavirus outbreak. Besides, analysts suppose that the growth pace will be the same during the year. Under the current economic conditions, the regulator will keep the key rate unchanged in the range from 1.5% to 1.7%. Of course, the US Fed will closely monitor developments stemming from the coronavirus. If it is necessary, the regulator will be ready to review its economic outlook. However, at the moment, there are no reasons for that.