Chair Jerome Powell isn't as pleased with the robust U.S. job market as you might think he'd be, and he and the Federal Reserve plan to do something about it: Take it down a notch.
On Thursday, Powell described the job market as “extremely, historically” tight and “unsustainably hot.” Available jobs are near record highs. Wages are rising at their fastest pace in decades. The unemployment rate is flirting with a half-century low, and layoffs are sparse.
