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Fed’s Powell: Fed expects interest rates to rise ‘somewhat further’

In further comments released to news agencies:

  • Uncertainty requires Fed policy to stay flexible.
  • Size of Fed’s balance sheet to shrink gradually.
  • Fed’s Powell pledges "To respond decisively" to any new economic threats, cites need to retain "Flexibility" in setting policy – RTRS.
  • pledges to defend fed independence while working to enhance accountability to public and Congress.
  • Do all "In my power" to defend twin fed goals of maximum employment, price stability.
  • Banking system safer due to higher capital, other requirements, but promises to look for ways to ease "Regulatory burdens".

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