No sign US economy ‘overheating’ – Powell

WASHINGTON: The US economy is showing no signs of overheating, so the job market can continue to tighten without generating troubling inflation, US central bank chief Jerome Powell said Thursday.

After his comments highlighting the strengthening economy roiled financial markets on Tuesday amid concerns the Federal Reserve would raise interest rates at a faster pace, Powell made it clear that gradual rate hikes would allow the economy to continue to expand.