US to preserve economic expansion

Zurich: The US central bank is ready to step in to preserve the American economy´s expansion amid mounting risks, Federal Reserve Chairman Jerome Powell said on Friday.And, while the Fed is not expecting a recession, trade frictions are among the risks that policymakers are watching, Powell said during a conversation at the University of Zurich.

The remarks should confirm widespread expectations that the central bank will cut interest rates later this month.

"We see the most likely case for the US and for the world too as continued moderate growth," Powell said. "We´re going to continue to act as appropriate to sustain this expansion."

"Trade policy uncertainty will be weighing on business investment decisions," he said.

The economic landscape has shifted this year, as business investment weakened noticeably, manufacturing has fallen into decline and job creation has slowed.