Amid growing concerns escalating global trade tensions could spark a recession, Federal Reserve Chairman Jerome Powell has pledged the central bank will take appropriate actions to sustain the U.S, economic expansion.
Powell mentioned recent developments involving trade negotiations and other matters in opening remarks at a Chicago Fed conference on Tuesday, acknowledging that the Fed does not know how or when these issues will be resolved.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.