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Jerome Powell Sees Rates Rising Somewhat Further

  • Fed must act decisively, with appropriate force to new threats
  • He vows to support economy on march toward ‘full recovery’
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Amherst Pierpont’s Stephen Stanley discusses Jerome Powell’s prepared remarks he’s scheduled to deliver Tuesday.(Source: Bloomberg)
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President Donald Trump’s nominee to head the Federal Reserve is making one thing clear as he prepares to testify before lawmakers: He’s not here to shake things up at the U.S. central bank.

Jerome Powell, in a statement to the Senate Banking Committee ahead of his confirmation hearing on Tuesday, signaled broad support for how the Fed operates, regulates and guides the economy, offering a full-throated defense of the government institution he’s about to lead.