Risks on the US economy have increased since July due to "commercial uncertainty" and "international conditions" with the growing possibility of a slowdown, according to the minutes released Wednesday of the last Federal Reserve (Fed) meeting .
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"The participants generally assessed that the downside risks to the prospects of economic activity have grown somewhat since the July meeting, particularly those arising from commercial uncertainty and international conditions," the Fed minutes said.RELATED
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In fact, the document noted that even several of the officials indicated that the likelihood of recession "has increased markedly in recent months." "The weakness in business investment and manufacturing so far this year has been seen as an indication of the possibility of a more substantial slowdown in economic growth than expected," he added.
The last meeting of the US central bank, led by Jerome Powell, took place in September, when it was decided to lower interest rates by a quarter point to the current range of between 1.75% and 2%.
The internal divisions, however, were visible since the decision was made with seven votes in favor and three against. The Fed will meet again later this month to discuss the monetary policy of the United States, at a time of continued criticism of President Donald Trump against the agency.
The president has urged the central bank to lower interest rates to "zero" to stimulate the country's economy. Trump recently described the behavior of the Federal Reserve to which he blamed the excessive "strength" of the dollar and "negatively" affect the manufacturing sector in the country as "pathetic."
The US economy advanced at an annual rate of 2% in the second quarter of 2019, according to the third and final calculation of the evolution of gross domestic product (GDP) in that period, released at the end of September.
The data points to the slowdown of the US economy in the second quarter of the year, after registering a growth rate of 3.1% at the beginning of the year.