Fed Chair Powell Aims for Humility Like Keynes Advised, Citing 'Red-Hot' Economy Despite Rate Hikes

Federal Reserve chair Jay Powell spoke at the Economic Club of New York and aimed for humility like economist John Maynard Keynes advised.

Powell said the Fed makes policy by being humble, looking out the window, and relying on evidence.

The economic evidence shows solid economic expansion despite Fed efforts to cool growth.

Powell metaphorically said the economy is "red-hot" even with Fed interest rate hikes.

Keynes said economists would be respected more if seen as humble like dentists rather than arrogant.