Federal Reserve Chair Jerome Powell said Tuesday that the U.S. economy is not running too hot, but still has the strongest growth of any developed nation.
“This is no longer an overheated economy,” the central bank leader said in his first day of monetary policy testimony this week. “This is an economy … that is more or less back by most measures to where it was before the pandemic. And that was a strong labor market, but it was not an overheated labor market.”
Later in the hearing, he was asked whether any economy in the world is performing better than the U.S.
“None comes to mind as I think in the majors. The answer would be no,” he said.