Over 720 business and civic leaders from throughout Rhode Island gathered to hear from Federal Reserve Board Chairman Jerome H. Powell on Monday, November 25 at the 2019 Annual Meeting of the Greater Providence Chamber of Commerce.

Chair Powell was introduced by U.S. Senator Jack Reed and preceded by remarks from Governor Gina Raimondo, Chamber President Laurie White and Chamber Board Chair Alden Anderson. 

Local, national and international media covered Chair Powell's keynote address live, including: The New York Times, Wall Street Journal, Bloomberg, Associated Press, Reuters, Financial Times, The Providence Journal, Providence Business News, CNBC, Boston Globe and others. 

 

See the event photos here, courtesy of Constance Brown Photo. 

 

Read the related coverage below, and learn what Chair Powell said about the future of the economy.

Chair Powell's full remarks and visual presentation can be found by clicking here. 

Providence Journal: In Providence visit, Fed chairman sees more gains ahead in U.S. economy

Federal Reserve Chairman Jerome Powell gave Rhode Island business leaders an optimistic look at the national economy Monday and said policymakers at the nation’s central bank should use all the tools at their disposal to maintain progress.

Speaking to the Greater Providence Chamber of Commerce’s annual meeting at the Rhode Island Convention Center, Powell said he was relieved to see the economic recovery finally benefiting Americans at middle- and lower-income levels.

Providence Business News: Powell says 11-year economic expansion has room to grow

Federal Reserve Chairman Jerome H. Powell on Monday said that “economic conditions are generally good” in the U.S. but that the benefits of an 11-year expansion in the economy “are only now reaching many communities.”

Powell told an estimated 720 business leaders at the Greater Providence Chamber of Commerce’s annual meeting that the “outlook for further progress is good. Forecasters are generally predicting continued growth, a strong job market, and inflation near 2%,” he said in prepared remarks.

Boston Globe: Fed chairman warns trade uncertainties are holding back economic growth

Federal Reserve Chairman Jerome Powell warned Monday that trade-related uncertainties throughout the world “have been holding back overall economic growth,” in the United States, but he said he remains optimistic about the outlook for the country.

Speaking at the Greater Providence Chamber of Commerce’s annual dinner, Powell said that manufacturing output has again fallen below its pre-recession peak and business investment has weakened as “global growth and trade have presented ongoing risks and uncertainties.”

New York Times: Fed Chair Powell Says a Solid Labor Market Could Get Even Stronger

While the job market is strong, benefiting low-wage workers and pulling prime-age adults back into the labor pool, “there is still plenty of room for building on these gains,” he told a room full of local business leaders assembled in Providence.

Wall Street Journal: Powell Says Fed’s Rate Cuts Reflect More Bearish View of Economy

Federal Reserve Chairman Jerome Powell said the central bank cut interest rates this year in part because officials concluded the economy wasn’t as strong as anticipated when the Fed lifted rates last year.

Financial Times: Jay Powell says ‘room to build’ on US economic expansion

Speaking to the Greater Providence Chamber of Commerce in Rhode Island, Mr Powell said the US economy was “generally good”, but added that there was still room for improvement.

Associated Press: Powell: Solid Economy but Tame Inflation Allows Low Rates

Federal Reserve Chairman Jerome Powell is sketching an optimistic view of the economy but signaling that continued low inflation means higher interest rates won’t likely be necessary anytime soon. 

The Fed chairman is making his remarks in a speech to the Greater Providence (Rhode Island) Chamber of Commerce.

Reuters: Fed's Powell: Monetary policy well positioned to support strong labor market

Powell said he has heard stories of employers and schools collaborating to train and hire people with various levels of education and workers with disabilities, in remarks delivered at an annual dinner for the Greater Providence Chamber of Commerce.

Bloomberg News: Fed’s Powell Says U.S. Economy’s Glass Is ‘More Than Half Full’

“At this point in the long expansion, I see the glass as much more than half full,” Powell said Monday evening in Providence, Rhode Island. “With the right policies, we can fill it further, building on the gains so far and spreading the benefits more broadly to all Americans.”

CNBC: Powell says the Fed is ‘strongly committed’ to 2% inflation goal, a sign that rates are likely to hold steady

In a speech in Providence, Rhode Island, Powell expressed a sense of urgency in meeting the inflation part of the Fed’s dual mandate. He said low inflation expectations feed on themselves and make it tougher for the Fed to support the economy.

Yahoo! Finance: Powell: Federal Reserve has interest rates 'well positioned'

At a speech in Providence, R.I., Powell said the central bank’s three consecutive rate cuts this year have left interest rates at a level “likely to remain appropriate.” The target federal funds rate is now in the range of 1.50% to 1.75%.