Chair Powell continues testimony on Capitol Hill
- wages rising at a healthy level, but would have expected to see wages move up more
- inflation and unemployment link now a faint heartbeat
- economy can sustain much lower jobless than we thought
- nothing will distract Fed from carrying out his job
- most important concerns are crosscurrents of trade policy and slowing global growth
- would add that persistent low inflation is also a concern
- says no reason why half-century low unemployment level can't continue
- decline in trend in labor participation rate is largely due to aging
- trade policy is connected to the rising business uncertainty
- when supply chains are call into question businesses can pull back
- does it see USD status as reserve currency under threat
- says monetary policy is always about the outlook
- yield curve is one of the things they watch
- not looking for authorization to buy a wider range of assets