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Powell continues to recite the usual lines,.....>

FED
FED: Powell continues to recite the usual lines, though most answers appear
dovishly-tilted if anything ...
Q: Re minimum wage being raised... Why has wage growth slowed?
- A: Wages not moving up in an inflationary manner...average hourly earnings
peaked at 3.4%, now trickling down...not at all sure why that is, could be
compositional effects. Not seeing excessive tightness in labour force pushing
wages higher.
- Q: Why are Treasury yields so low?
- A: [among other usual structural factors he noted] Risk of lower inflation
greater than risk of higher inflation at the moment.

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