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Fed chief says 'all is not well' in otherwise healthy US economy

Unemployment rate is near a 50-year low, but over 5% of workers have to hold multiple jobs and earnings are rising at a rate of 3% a year, just ahead of inflation

Published Thu, Feb 13, 2020 · 09:50 PM

Jerome Powell

Washington

THE United States has seen steady job gains that have beat expectations and lasted longer than expected, but Federal Reserve chairman Jerome Powell acknowledged on Wednesday that all is not well.

Wage gains have remained sluggish, while Americans lag workers in other advanced economies in education and skills, the amount of people in the workforce and the cost of healthcare, he told senators.

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