Fed chair Jerome Powell believes the U.S. economy is capable of growing faster than usual right now, without inflationary pressure. The big picture: That was the subtext — and, in some spots, explicit text — of his comments after Wednesday's decision. It is also fueling a surge in stock and bond markets over the last 24 hours. Why it matters: If the economy's potential is rising unusually quickly right now because of supply-side improvements, it allows the Fed more room to let growth run and less of a need to trigger a slowdown to bring inflation in line. State of play: The labor force has grown markedly in the last ... (full story)