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Fed's Powell says he's confident 'good years' are ahead for U.S. economy [CNN]

BANK of NEW YORK MELLON (BK)  More Company Research Source: CNN
Last bank of new york mellon earnings: 7/19 06:30 am Check Earnings Report
PDF Fed's Powell says he's confident 'good years' are ahead for U.S. economy Federal Reserve Chairman Jerome Powell's bright economic outlook is raising investor expectations that faster interest-rate hikes may be on the way. The Fed already has plans for three hikes to keep the economy from overheating. But inflation, which has run below the Fed's 2% target for years, is finally picking up. And wages are climbing in a tight job market. Powell expressed confidence that the next few years will be "good years for the economy" as Americans spend more and businesses increase their investments, helping to boost productivity. "My personal outlook for the economy has strengthened since December," Powell told the House Financial Services Committee, where he delivered the Fed's twice-a-year report on the state of the economy. Investors took the upbeat report as a sign that the Fed may have to raise rates four times instead of three. In the bond market, the 10-year Treasury yield quickly spiked fro [Read more]

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