Federal Reserve Chairman Jerome Powell delivered another upbeat assessment of the U.S. economy, an indication the central bank remains likely to raise short-term interest rates next month.
The economy is in “good shape,” Powell said Thursday at a public event in Houston, adding that the recently released October employment report was “very strong.”
The report showed robust hiring and low unemployment last month, while average hourly earnings rose 3.1% from a year earlier, the biggest year-over-year gain since 2009.
The Fed chairman said wages still haven’t increased as much as hoped.
Powell’s brief remarks on the economy Thursday echoed some of the more extensive comments he made Wednesday at a longer appearance in Dallas. At both events, he spoke in response to questions from Dallas Fed President Robert Kaplan and members of the audience, rather than speaking from a prepared text.
Read more in the Wall Street Journal.