English
Fed Chairman: Wages are not rising at a rate that leads to higher inflation
US Federal Reserve Chairman Jerome Powell said today, Wednesday, that wages in the United States are rising as the economy continues to recover from the blow caused by the Corona virus pandemic, but the increases are not happening at a pace that would lead to higher inflation.
"We've seen wages rise significantly... We don't see them rising at an alarming rate that would lead to higher rates of inflation, but that is something we watch very carefully," Powell told the US House of Representatives Financial Services Committee.
Powell said the economic recovery of the United States is stronger than that of other major economies, thanks in part to strong financial support.
He added that with millions of Americans remaining unemployed, officials at the US central bank will need to work to balance employment rates with the goal of price stability.
"We have to balance these two goals," Powell said. "But I assure you, we will use our tools to make sure that this high inflation that we are seeing does not continue."
