January 16, 2020 / 3:54 PM / a month ago

Fed's Bowman says expects U.S. consumption to remain strong

KANSAS CITY, Mo (Reuters) - Low unemployment and rising wages mean U.S. consumer spending should remain strong, Federal Reserve Governor Michelle Bowman said on Thursday.

Following solid retail sales results for December, Bowman said that “consumer confidence remains high...The household sector has been resilient,” despite uncertainty last year over trade and other policies that, for example, is felt to have discouraged business investment.

Reporting by Howard Schneider; Editing by Andrea Ricci

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