Powell speech: We don't see wages moving up at a troubling rate that would spark inflation

Fed Chair Jerome Powell is currently testifying before the House Financial Services Committee alongside US Treasury Secretary Janet Yellen. 

Key takeaways:

"Wages have moved up significantly."

"We don't see them moving up at a troubling rate that would spark inflation."

"Inflation we are seeing is still clearly connected to pandemic."

"But inflation has spread more broadly."

"Risk of persistent inflation has risen."