MNI POLICY: Fed's Powell: Economy 'Performing Very Well'

     WASHINGTON (MNI) - Federal Reserve Chairman Jerome Powell told a housing

conference Thursday that the U.S. economy is "currently performing very well

overall" with a "very strong" national labor market.

     Powell was delivering opening remarks to the Housing Assistance Council's

Rural Housing Conference in his last public statements before the FOMC'S quiet

period starts. He emphasized that not all U.S. communities have shared in the

expansion, but still spoke positively about the national picture.

     "I am happy to report that our economy is currently performing very well

overall, with strong job creation and gradually rising wages," Powell said.

     He noted that the unemployment rate stood at a nearly 50-year low of 3.7%

in October and that the strength of the job market "has encouraged more people

to participate in the labor market, another positive development."

     The November employment report will be released at 8:30 a.m. ET Friday

morning. Data on inflation, retail sales, and industrial production will be

released next week, providing the FOMC with a full complement of indicators

ahead of its December 18-19 meeting.

--MNI Washington Bureau; tel: +1 202-371-2121; email: kevin.kastner@marketnews.com

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