Jerome Powell: “Yes, sir, it has been a gradual recovery, but it is ongoing.”

the outlook for employment and inflation does not appear to have changed much since our September meeting

Overall, while the labor market appears to be in balance, it is a curious kind of balance that results from a marked slowing in both the supply of and demand for workers.

Part of that is due to the start-stop nature of the tariffs that have been introduced.

I want to hand over to my successor an economy in good shape.