Chief Economic Reporter of the Wall Street Journal: Powell will shift the focus from the core service industry to the labor market

Odaily News Nick Timiraos, chief economics correspondent of The Wall Street Journal, commented on Powells speech, saying that Powell abandoned the focus on the core service industry (except housing) and turned his attention to the labor market. He then quoted part of Powells speech - You can see that the labor market is cooling, which is appropriate, and we are watching it very carefully. In fact, it looks like you are doing what you hope it will do.