Fed's Powell: Wages don't point to overheating in economy

Following his prepared speech before the Committee on Banking, Housing, and Urban Affairs, Fed Governor and future Chairman Jerome Powell is responding to questions from committee members, with key quotes (via Reuters) found below.

Wages don't point to overheating in economy.

4.1 percent unemployment rate is around or even below many estimates of full employment.

Wide range of indicators suggest U.S. is near full employment.

Wages not signaling any tightness in labor market.

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About Jerome Powell (via federalreserve.gov)

Jerome H. Powell took office as a member of the Board of Governors of the Federal Reserve System on May 25, 2012, to fill an unexpired term. He was reappointed and sworn in on June 16, 2014, for a term ending January 31, 2028.

Prior to his appointment to the Board, Mr. Powell was a visiting scholar at the Bipartisan Policy Center in Washington, D.C., where he focused on federal and state fiscal issues. From 1997 through 2005, Mr. Powell was a partner at The Carlyle Group.