, Columnist
Powell Feels the Heat But Doesn’t Need the Extinguisher
The US economy is running hot, the Fed chair acknowledged Friday in Jackson Hole. The central bank’s framework suggests it won’t cool it immediately.
Good news on the economy is not necessarily bad news.
Photographer: Michael M. Santiago/Getty Images
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Speaking in his annual policy speech in Jackson Hole, Wyoming, Federal Reserve Chair Jerome Powell said he was attentive to emerging signs of strength in the US economy — a subtle shift from July, when he mostly saw activity expanding at a “moderate pace.”
Here’s how Powell described matters on Friday (emphasis mine):