Powell Upbeat on Economy Despite Criticism on Housing and Regulations

• Powell delivers optimistic economic outlook, saying "We're doing the best of anybody" compared to other major economies • Inflation has fallen to 2.4%, unemployment is low at 3.7%, GDP growth is projected at 2.5% this quarter • Corporate profits are way above pre-pandemic levels, topping $3 trillion last quarter • Public opinion on the economy beginning to turn around, with more expecting conditions to improve • Powell faces criticism from Democrats on housing costs, Republicans on proposed bank capital rules, but overall paints a sunny picture