Central Banks
Powell Says Fed Seeks Strong Labor Market Over a Sustained Period
- Chair Powell says price stability a bedrock of healthy economy
- Powell didn’t comment on his near-term outlook on rates
Jerome Powell
Photographer: Sarah Silbiger/BloombergThis article is for subscribers only.
The Federal Reserve is focused on achieving a good labor market for a sustained period, Chair Jerome Powell said at a roundtable event in York, Pennsylvania.
“Lots of good things happen” in addition to real wage increases when a good labor market lasts for a sustained period of time, Powell said Monday. There are expanded efforts to get more people into the workforce, for example, like programs that prepare prisoners for work a year before they are released.