Powell asserts economy is healthier and stronger ...

Federal Reserve Chairman Jerome Powell said today that the US Federal Reserve is looking at a wide range of indicators to gauge how close the economy is to reaching full employment as he reiterated the benefits of targeting workers who often remain on the sidelines. Speaking at a virtual conference on diversity and inclusion in economics, finance and central banking, Powell emphasized that the economy is healthier and stronger when the largest possible number of people are able to work.

Fed officials cited strong economic growth and job gains as evidence that the economy could start to stand on its own, while Powell said the Fed would remain patient and prioritize additional steps toward maximum employment before raising interest rates despite concerns about higher-than-expected inflation.