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.