Fed chairman Jerome Powell said higher wages not yet leading to higher inflation. : Jerome Powell, chairman of the U.S. Federal Reserve, praised today's job numbers and said he saw no signs that higher wages were leading to higher inflation. Photographer: Andrew Harrer/Bloomberg © 2018 Bloomberg Finance LP© 2018 Bloomberg Finance LP As everyone now knows, the job market is roaring, and unexpectedly so. And two former Fed chairs admitted today during a sit-down interview at the American Economic Association's annual meeting in Atlanta that only two things kill economic expansion: financial imbalances, and a hawkish Fed.