Powell: Recent strong employment data may be slightly 'exaggerated'
Powell stated at the press conference on interest rate decisions that overall, a range of indicators indicate that the labor market has recovered to pre-pandemic levels, which is relatively tight but not overheated. Members of the Federal Open Market Committee (FOMC) expect the labor market to continue to strengthen. However, Powell also suggested in his speech that recent strong employment data may be slightly "exaggerated" and hinted that benchmark data may be under revision.
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