October 3, 2018 / 8:50 PM / 8 months ago

U.S. economy can expand for 'quite some time': Fed Chair Powell

FILE PHOTO: U.S. Federal Reserve Chairman Jerome Powell holds a news conference following a two-day Federal Open Market Committee (FOMC) policy meeting in Washington, U.S., September 26, 2018. REUTERS/Al Drago/File Photo

(Reuters) - The Federal Reserve may raise interest rates above an estimated “neutral” setting as the “remarkably positive” U.S. economy continues to grow, Fed Chairman Jerome Powell said on Wednesday.

The current economic expansion “can continue for quite some time,” Powell said at the Atlantic Festival in Washington D.C. “If we see things getting stronger and stronger with inflation moving up then we might move a little quicker. If we see the economy weakening or inflation moving down we might move a little more slowly,” he added.

Reporting by Jonathan Spicer and Richard Leong; editing by Diane Craft

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