Could reach maximum employment by mid-2022 -Breaking
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(Reuters) – Federal Reserve Chairman Jerome Powell said Wednesday that the U.S. employment market could have improved sufficiently by mid-2019 to allow it to be considered “maximum employment.” This hurdle is crucial for the central bank in considering raising interest rates.
Powell spoke at a conference following the Fed’s recent policy meeting and said that officials didn’t see any “troubling rises” in worker’s wages, which could increase the possibility of an “wage-price spiral” phenomenon that would force the Fed into action sooner than anticipated to control inflation.
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