Powell answers questions from the Senate Finance Committee

  • We don't see wages signaling a tight economy
  • Measure of prime age males unemployment is concerning, one of the few indicators that show slack in labor market
  • A 'wide range of indicators' suggest US is around full employment
  • 'There is no sense of an overheating labor market'
  • The United States does not have any banks that are too big to fail
  • It's time for us to be normalizing rates
  • Patience on rate hikes as served Fed well
  • I continue to oppose 'audit the Fed' legislation

The US definitely has banks that are too big to fail.