The U.S. Federal Reserve will continue to increase interest rates... as the U.S. economic outlook remains strong. <br /> Federal Reserve Chairman Jerome Powell delivered an upbeat assessment of the U.S. economy on Tuesday,.... saying it justified further interest rate increases.<br />Powell cited low unemployment and inflation close to the Fed's two percent target.<br />The U.S. central bank has increased the federal funds rate *twice so far this year,.... to a range of 1-point-7-5 to 2-percent. <br />However, the Fed chair acknowledged that the escalating trade conflicts and threat of tariffs between the U.S. and several countries, including China... could have a negative effect on the local economy. <br />But despite such concerns on trade,.... Powell said,he believes raising interest rates gradually is the best option, at least "for now". <br />
