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Still, there is concern about the economic situation, and there are those who say that the Fed is not responding enough. The most glaring weakness is growing slowly, even more important. Powell did not have any easy answers.
"It's a bit of a mystery why they're not bidding up this commodity," he said. "We have seen a gradual increase. My own expectation would be more than that. "
It's possible, Powell said, that workers simply do not have the same bargaining power as they used to, a factor of both globalization and mechanization of jobs. He said he is also concerned that the U.S. workforce does not continue to be better educated, especially in relation to the rest of the world, the nation will not be able to take advantage of the advances.
There are also interest-rate concerns. Fiscal hawks do not worry that they will persist with low recession rates. Trump is not alone in his opposition to raising rates; some progressive economic observers agree.
Powell said, "I'm going to have a lot of things to do." He said he thinks that the Fed is doing a good job, and the positive indicators in the economy suggest it's working. But that does not mean he feels totally safe about the economy.
"Nobody wants a central banker who sleeps well," Powell said. "What good is that?"
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