U.S. Federal Reserve Chairman Jerome Powell has said the Fed is ready to support the economy as a recovery falters.

US Federal Reserve Chairman Jerome Powell speaks during a press conference after a Federal Open Market Committee meeting in Washington, DC on July 31, 2019. – The US Federal Reserve cut the benchmark lending rate on Wednesday for the first time in more than a decade, moving to stimulate the economy after a year of sustained pressure from President Donald Trump. The target for the federal funds rate is now 2.0-2.25 percent, 25 basis points lower, and the central bank vowed to “act as appropriate to sustain the expansion.” (Photo by ANDREW CABALLERO-REYNOLDS / AFP) (Photo by ANDREW CABALLERO-REYNOLDS/AFP via Getty Images)