Federal Reserve chairman nominee Powell avoids grading the US economy.

Nominee for Federal Reserve Chair, Powell, sidestepped a question from Georgia Democratic Senator Raphael Warnock about how he would rate the US economy, instead criticizing the common practice of grade inflation in higher education institutions. Powell told the Senate Banking Committee that if he gave students anything other than an "A," the department chair would call him to the office for harming student self-esteem. Powell joined the Hoover Institution at Stanford University after completing his previous term as a Fed governor. Powell told Warnock that if the Fed implements policy reforms, the economy could be stronger, inflation levels could be lower, and people's take-home pay could be higher. Powell also criticized the expansion of the central bank's balance sheet since his last tenure at the Fed.