The Federal Reserve said Friday in a report to Congress that the U.S. labor market is back in the "tight but not overheated" situation it was in before the COVID pandemic threw the economy into disarray.
The report to Congress also included an essay on "Monetary Policy Independence, Transparency, and Accountability" that reiterated the central bank's "operational independence" to make interest rate decisions based on long-term economic considerations instead of short-term political influence.
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