“It’s a very serious issue,” Mr. Powell said. Mr. Powell noted that the 2 percent goal is “not a ceiling,” suggesting that price gains above that level would not be problematic for the Fed. That is unlikely to sit well with Mr. Trump, who has been pushing the central bank to slash rates further. In a tweet on Tuesday, Mr. Trump said “the Fed should get smart & lower the Rate,” arguing that comparatively high rates in the United States are putting the country at a disadvantage. Mr. Trump also signed a revised North American Free Trade Agreement on Wednesday, bringing more than two years of fraught negotiations to a close.

Source: New York Times January 29, 2020 19:05 UTC