At the same time global economic growth stayed

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and Liang 15). At the same time, global economic growth stayed constant, and exports were seen to have neutral effects on the nation’s real GDP. From the report, “r eal gross domestic product is reported to have increased at an annual rate of 2 percent in the first quarter of 2018, and recent indicators suggest that economic growth stepped up in the second quarter” (The Federal Reserve System 2).
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Surname 3 A Graph Showing the Change in Real Gross Domestic Product and Gross Domestic Income Source: Bureau of Economic Analysis About the country’s financial conditions, the report indicated that they remained resilient, which reflected financial stability and growth for the economy. Ostensibly, “most types of consumer loans remained widely available for households with strong creditworthiness, and credit provided by commercial banks continued to expand” (The Federal Reserve System 23). Households had access to various consumer loans, which were readily available to those citizens with strong creditworthiness. Markedly, the financial growth increased continuously while the households and business financial conditions supported the growth of economy; thus increasing the country’s economic development. Moreover, the value of the dollar appreciated and foreign financial conditions remained supportive for the nation’s economic development. Monetary policy is another issue illustrated from the report and Powell’s speech. The federal funds target range was noted to be increasing over the first half of 2018 and the federal board agreed to increase target range for the impending years. According to the Fed, “The Committee decided to raise the target range for the federal funds rate at its meetings in March
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