WASHINGTON — Jerome H. Powell, the Federal Reserve chair, painted an optimistic picture of the United States economy before Congress on Wednesday, though he warned that threats to the outlook persist.
“In particular, sluggish growth abroad and trade developments have weighed on the economy and pose ongoing risks,” Mr. Powell said during his prepared remarks.
The United States’ central bank has cut interest rates three times since late July, as tensions from President Trump’s trade war and slowing growth abroad unnerved companies and weighed on investment.
