September 4, 2019 / 2:34 PM / 3 months ago

New York Fed's Williams still sees above-trend growth despite risks

NEW YORK (Reuters) - New York Federal Reserve President John Williams said on Wednesday he still expects the U.S. economy to expand at an above-trend pace of 2.0%-2.5% in 2019 despite low business investment and trade uncertainty.

He said strong consumer spending, a tight labor market and rising wages would continue to fuel the longest-ever U.S. expansion on record.

“Fundamental factors are aiding the consumer to spend more,” he said.

However, he added that he expects consumer spending to moderate to a more sustainable level.

Williams spoke to reporters after a speech at a conference about inflation products sponsored by Euromoney.

Reporting by Jonnelle Marte and Richard Leong; Editing by Chizu Nomiyama

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