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Powell Says U.S. Labor Market Consistent With Maximum Employment

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Powell Says Fed Can Raise Rates Without Hurting Jobs

Federal Reserve Chair Jerome Powell said Wednesday that U.S. labor market conditions are consistent with maximum employment, a milestone that comes nearly two years after the pandemic first wiped out more than 22 million jobs.

“Most FOMC participants agree that labor market conditions are consistent with maximum employment in the sense of the highest level of employment that is consistent with price stability,” Powell said on a conference call with reporters following the FOMC meeting. “And that is my personal view.”