Comments released to news agencies

Fed's Powell in a statement for confirmation hearing:

  • Pledges to defend Fed independence while working to enhance accountability to public and congress
  • Pledges to respond decisively to any new economic threats, cites need to retain flexibility in setting policy
  • Expects interest rates to rise "somewhat further"
  • Fed to weigh deregulation while keeping core reforms
  • Banking system safer due to higher capital, other requirements, but promises to look for ways to ease regulatory burden.