Jerome Powell: “I do think that as this expansion has continued, we have started to see people at the lower end of the wage scale get…”

Rising downside risks to employment have shifted our assessment of the balance of risks

We're trying to deliver macro stability, financial stability, economic stability for the benefit of all the people.

without the ability to pay interest on reserves, the Fed would lose control over rates

Job growth, he said, has slowed considerably and that the downside risks to employment are rising.