The president of the association said: "the economy is not growing hot"

The chairman of the Federal Reserve Board (American Association Jerome Powell) said in March 1st that he did not see signs of growth in the U.S. economy is overheated.

Mr. Powell announced that it will be second days before the hearing, the Congress of the United States. Speaking before the Senate Banking Committee, Mr. Powell said, the market work in tight, but don't you think the salary is rising too fast. Even you are very surprised, perhaps wages will increase faster.

Wage increases are the elements in the price rise, inflation, and rising interest rates. This is the time, let yourself worry about the U.S. stock market continuous reduction.

"There is no evidence that the U.S. economy is growing," says Mr. Powell of the heat.

This Wednesday, Mr. Powell is the first hearing on Capitol Hill, think you are optimistic, of economic growth in the United States has become the world's investment rate of anxiety may increase faster than expected in 2018. This is a hearing to display two times a year as chairman of association report, the economic situation in the United States.

In the United States, slow wage growth from the great recession, the financial crisis in 2008. This is why many Americans feel the economic recovery. However, the wage increase rate in January this year, raising the level of 9 years.

"Frankly, I think it should be added to the current salary is higher," said Powell, hearing hit you. "I think the increase in wages will start from here".

In the past few years, they wait for increased wages to adjust interest rates. The challenge for the central bank in a period of time is compared to a step ahead of the price pressure increase.

"I don't want to do is we want to slow inflation and interest rates rising very fast because it can make the economy into recession, Mr. Powell's speech.

The current level of inflation in the United States, 2% Hi, healthy economy. However, officials of the association to forecast inflation will be closer to this goal this year.

A few years ago, when the unemployment rate is higher, the risk of inflation in the low level, so inflation is not a threat to society. But now, when the unemployment rate hit a record low, they are concerned about the inflation under control.

History shows that they have a shock to raise interest rates to control inflation, leading to declining in economic growth.

This is why at this time, Mr. Powell believes that the right direction is they raise interest rates to slow to maintain economic growth has lasted 9 years. The association is expected to raise interest rates three times this year.

"I think this is the right direction, as long as in the development of the modern economy," Powell said.

The next meeting of the monetary policy association in March.