Fed chairman says goal is to keep economy in ‘good place’
WASHINGTON (AP) — Federal Reserve Chairman Jerome Powell said Friday that the U.S. economy is facing some risks at the moment, but overall it is in a “good place” and the Fed’s main job is to “keep it there as long as possible.”
Powell noted that unemployment is at a half-century low and inflation is running close to the Fed’s 2% target.
While Fed officials believe they have the correct strategy and tools to extend the current record-long expansion, it is important to examine whether any changes could improve the Fed’s handling of the economy, Powell said.