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Powell, in prepared remarks, backs further slow rate hikes


November 26, 2017

WASHINGTON (AP) — Jerome Powell says that if confirmed as the next chairman of the Federal Reserve, he expects the Fed to continue raising interest rates gradually to support its twin goals of maximum employment and stable prices.

Under his leadership, Powell says, the Fed would consider ways to ease the regulatory burdens on banks while preserving the key reforms Congress passed to try to prevent another financial crisis like the one that erupted in 2008.

Powell's comments came in prepared testimony he will deliver Tuesday at the start of his confirmation hearing before the Senate Bankin...

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