Highlights from Powell's appearance at the Senate Banking Committee
- Repeats prepared text from Tuesday
- More labor market gains can occur without causing inflation
- No strong evidence of a decisive move up in wages
- No evidence that economy currently overheating
- Gradual hikes will continue to be path of rates as long as the economy continues this way
- I would have expected more wage hikes at this point, believe we will begin to see them move up
- "That's what we're waiting to see"
A dovish slant in the early headlines.
It's tough to envision anything different from what we heard on Tuesday. We're really watching for him to slip up.
More:
- Fiscal policy of one of many factors we're looking at
