We are looking A-Ok folks. The fed said the economy is in a good spot.
The U.S. economy looks good to Jerome Powell.
The big picture: The Fed chairman laid out his rose-colored vision of the country on Tuesday at the National Association for Business Economics conference. The economy is neither too hot nor too cold, inflation is under control, productivity is increasing, the job market is booming and the Fed is not (repeat, not!) engaging in a new quantitative easing program.
What's happening: It's becoming clear to more economists and market participants that the Fed's toolkit is losing its effectiveness and monetary policy may be powerless to protect the economy if there's a recession. So Powell has deployed a central bank's most consistent weapon: communication.