Powell: US has greater chance of avoiding recession, won't rule out 'mild' one

U.S. Federal Reserve Chair Jerome Powell said on Wednesday he believe that the U.S. has a greater chance to avoiding a recession than falling into one, in part because wages are moderating to a more sustainable level.

He told a news conference, however that he would not rule out a recession, adding: "It's possible that we will have what I hope would be a mild recession."