Fed’s Jerome Powell Sees Little Sign of Labor Market Overheating

By Anonymous

The Fed chief doesn’t see evidence the tight labor market is generating a sharp upturn in price pressures

Federal Reserve Chairman Jerome Powell said he doesn’t see evidence the labor market is at risk of overheating or of pressuring up prices.

In an address to business economists Tuesday in Boston, Mr. Powell pushed back against criticism that Fed officials’ projections of sustained, very low unemployment are underestimating the prospect of inflation rising significantly above the central bank’s 2% target.