host: back with chris condon, federal reserve reporter to talk about jero >>> we are back with chris condon . talking about jerome powell , the testimony yesterday. today he will be before the banking committee at 10 am eastern time. we will have coverage on c- span.org or you can listen with the radio at. but it the chairman tell the house lawmakers yesterday? >> it was straightforward. a message about the economy pick it is in good shape. unemployment is very low and one of the lowest points in the last 20 years. inflation is under control. that is a good place to be and for the economy to be. they feel the current policy and where they projected the fund rate to is a good path. he added a line in the prepared testimony that he delivered yesterday. he said that seems to be the right path for now. it is a little bit of a no -- debate over what they are trying to signal with that pick the one hand there is folks saying this is the same old boilerplate caveat the fed will add. we are not on autopilot. if conditions change, we might speed up the pace of the rate hikes because the tax hi

interesting is the extra sections that chris condon was talking about in the report. labor force participation rate is interesting because there has been a big question on how can and yetment be so low inflation is not going up? one way to square the circle is to say we are seeing increase in labor force participation rate and people are being drawn in from outside the job market who may have left. was on interesting box the balance sheet and interest on reserve. something people in interest rate markets have been paying attention to as the red funds rate has rested up as the fed has been unwinding its balance sheet. another topic they are focused on end trying to figure out how that will play out. those are the two interesting things in the report. vonnie: the fed saying mortgage backed securities and treasury markets are not disrupted by balance sheet rolloff. the spread may narrow further as balance sheets strength. -- shrink. more on the labor markets, the fed is thing attention to moderating. what does that mean? in the wage growth data and the consumer price inf

morning, this chris condon on federal reserve policy and the u.s. economy. then democratic california, richmond brad sherman talks about the fallout from president trump's meeting with russian president vladimir putin and the molar probe. and claudia tenney on u.s.-russia relations. be sure to watch c-span's "washington journal" live at 7:00 eastern. this morning, join the discussion. >> here's a look at what's live on wednesday. the house continues work on the 2019 interior and financial spending package. that's 10:00 a.m. eastern on c-span. on c-span two, the senate debates a judicial nomination for the u.s. district court. on c-span3, federal reserve chair jerome powell is on capitol hill. he will testify before the house financial services committee about monetary policy and economy. that's a 10:00 a.m. eastern. in the afternoon, the head of the national institute of allergies and infectious diseases discusses this past year's flu season, which the government says was one of the most severe in the past decade. nationalks at the press club begin at 1:00 p

chris condon, what did the chairman tell the house lawmakers yesterday?uest: a pretty straightforward message as is powell's style. it is in pretty good shape unemployment is low, one of the last 20 years. inflation is under control. that is a good place for the fed and economy to be. they feel the current path of monetary policy, where they have projected the fed funds rate to be going, is a good path. he added it interesting line in the prepared testimony. he said that seems to be the right path for now, which is a new shading. there is a debate now -- this is typical fed tea leaf reading -- over what exactly they are trying to signal with that. on the one hand folks are saying boilerplatesame old . we are not on autopilot. we might speed up if conditions change the pace of rate hikes because the tax cut to have more stimulative effect on the economy. on the other hand may be the trade situation will cause the economy to slow down and that will make slow down the pace of rate hikes. on the other side there is this issue of how art can be fed -- how far

chris condon, what did the chairman tell the house lawmakers yesterday? guest: a pretty straightforward message as is powell's style. it is in pretty good shape unemployment is low, one of the last 20 years. inflation is under control. that is a good place for the fed and economy to be. they feel the current path of monetary policy, where they have projected the fed funds rate to be going, is a good path. he added it interesting line in the prepared testimony. he said that seems to be the right path for now, which is a new shading. there is a debate now -- this is typical fed tea leaf reading -- over what exactly they are trying to signal with that. on the one hand folks are saying boilerplatesame old . we are not on autopilot. we might speed up if conditions change the pace of rate hikes because the tax cut to have more stimulative effect on the economy. on the other hand may be the trade situation will cause the economy to slow down and that will make slow down the pace of rate hikes. on the other side there is this issue of how art can be fed -- how fa