The Fed Chairman, Jerome Powell, stated that the US economy is improving, but the labor market remains weak.

Jerome Powell, the chairman of the Federal Reserve, stated that the American economy seems to be on a stronger trajectory than anticipated, despite reduced activity in the labor market. In a speech addressed to the National Association of Business Economists, Powell mentioned that the outlook for employment and inflation has not changed significantly since the meeting in September, when the Fed lowered the benchmark interest rate by 0.25 percentage points. Powell emphasized that monetary policy will be set based on economic developments, aiming to balance the weakness in the labor market with inflation, which remains above the 2% target.