United States Federal Reserve Chairman Jerome Powell said on Thursday that the American economy is "doing the best" when compared to other advanced economies.
"The US economy is growing at a healthy, sustainable and solid pace ... As the labor market cools, we have seen and will see food inflation level off. The US economy is the best performer among developed countries," Powell added speaking before the House Committee on Monetary Policy
In contrast, Powell underscored that although there has been a notable decline since the beginning of the previous year, the job market continues to be "quite tight" and inflation remains "too high."
