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