Federal Reserve chairman Jerome Powell said on Thursday that the U.S. economy "is solid," adding that he doesn't predict a recession in 2019, the Washington Post reports.
Our thought bubble, from Axios' Dion Rabouin: The message from Powell was clear — the first half of 2019 is off the table for interest rate hikes. If Powell's comments earlier this month that the Federal Reserve would be "patient" with future interest rate hikes and stand ready to change course "significantly if necessary" weren't clear enough, he slammed the table to let markets know that the "Powell put" is very much in play. If stocks start sliding again, the Fed is ready to cut rates.
