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Fed staff no longer forecasting U.S. recession, Powell says

WASHINGTON (Reuters) -U.S. Federal Reserve Chair Jerome Powell said on Wednesday the central bank's staff no longer forecasts a U.S. recession, and "we do have a shot" for inflation to return to target without high levels of job losses. Powell told a news conference after the Fed's latest interest-rate hike that there was "a lot left to go to" see such a soft landing. "So the staff now has a noticeable slowdown in growth starting later this year in the forecast, but given the resilience of the economy recently, they are no longer forecasting a recession," he said. ....

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