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.
Jerome Powell
The Public Record
Jerome Powell is the 16th Chair of the Federal Reserve, having been appointed to the position in February 2018. He is a member of the Republican Party and has played a significant role in shaping U.S. monetary policy during his tenure. Powell's leadership has been marked by efforts to navigate the economy through challenges such as inflation and employment fluctuations, particularly in the wake of the COVID-19 pandemic. He has emphasized the importance of balancing the pace of monetary policy adjustments to avoid both inflationary pressures and job losses in the labor market.
Job growth, he said, has slowed considerably and that the downside risks to employment are rising.
It is a big risk to our independence if we were to stray into areas where we shouldn’t that really aren’t part of our mandate.
When you significantly slow the growth of the labor force, you will slow the growth of the economy.
There are no new water features, there’s no beehives, and there’s no roof terrace gardens
We’re trying to deliver macro stability, financial stability, economic stability for the benefit of all the people.
So we didn't overreact — in fact, we didn't react at all. We're simply taking some time.





