The central bank is keeping a close eye on the labor market and staying vigilant for signs of a potentially sharp downturn, Fed Chair Jerome Powell said.
"We're watching really carefully for that," he said during Wednesday's press conference.
"We're aware of that role, which ….
I would call it a statistical thing that has happened through history."
At this point, low unemployment and a low level of layoffs suggest a "normalizing labor market," the Fed chair noted.
Persons:
Jerome Powell, — Samantha Subin