Global economic growth to boost US exports : Federal Board Chief

Posted by Daily Shipping Times on 20-07-2017        Tweet

WASHINGTON: Estimating a positive economic prospect for the US, Janet L Yellen, Chairwoman, Federal Reserve System Board has told the American lawmakers that the world growth is likely to boost the US exports.

“I expect that, with further gradual adjustments in the stance of monetary policy, the economy will continue to expand at a moderate pace over the next couple of years, with the job market strengthening somewhat further and inflation rising to 2%,” she told House Finance Services Committee members during a Congressional hearing.

“The world economic growth should further support US exports,” Yellen said.

The Fed Chairwoman said that though the global economic prospects seem to have improved to some extent this year, but several trading partners of the US continue to face economic challenges.

“At present, I see roughly equal odds that the US economy’s performance will be somewhat stronger or somewhat less strong than we currently project,” she said.