The U.S. economy is doing well even as worries over the country's trade policy are hurting business investment, a top Fed official says.
"Fundamentally, the U.S. economy is quite solid," says Randal Quarles, Fed vice chairman for supervision.
Randal Quarles, vice chairman of supervision at the Federal Reserve, at the NABE Economic Policy Conference in Washington, D.C., U.S. on Feb. 26, 2018.Washington, D.C. — The U.S. economy is chugging along nicely even as worries over the country's trade policy are hurting business investment, a top Federal Reserve official said Friday.
Business investment contracted by 1% in the previous quarter. Initially, the BEA estimated a fall of 0.6%. The sharp fall in business investment comes as China and the U.S. wage a trade war against each other.
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