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.
