Economy Confusing And Exciting Dems

Federal Reserve Chairman Jerome Powell sees the U.S. economy generating highly optimistic expectations, with the unusual combination of low unemployment and inflation fueling hopes for an extended expansion.

In a speech Tuesday, the central bank chief said the jobless rate is running at 3.9 percent and inflation is around the Fed's goal of 2 percent. Historically, low unemployment has fueled inflation and sometimes has forced the Fed into hiking interest rates rapidly.

“While these two top-line statistics do not always present an accurate picture of overall economic conditions, a wide range of data on jobs and prices supports a positive view,” Powell told economists at a Boston conference. “In addition, many forecasters are predicting that these favorable conditions are likely to continue.”

He pointed out that after last week's Federal Open Market Committee meeting, a reporter asked him if the current conditions are “too good to be true,” which he called “a reasonable question.”

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