Internet reports that Federal Reserve Chairman Powell delivered a speech on the economic outlook. He said that judging from many indicators, the labor market seems to be roughly balanced and is not an important source of inflationary pressure. Today's employment report showed that the unemployment rate was 4.2% in March, still at its lowest level since the beginning of last year. Employment grew by an average of 150,000 jobs a month in the first quarter. A combination of low layoffs, slowing job growth and labor force growth has kept the unemployment rate largely stable.