Powell treads tricky path in saying wages are rising too fast

Fed Powell

WASHINGTON: Federal Reserve chairman Jerome Powell (pic) has avoided the gaffe his United Kingdom counterpart made last month but he’s delivering much the same message: Wages are growing too fast for the good of the economy.

While Bank of England governor Andrew Bailey sparked a minor firestorm when he suggested workers shouldn’t ask for big wage increases – UK labour unions tore into him for his remarks –

Powell’s description of a “tight to unhealthy” job market on Wednesday made barely any waves.