Jerome Powell, nominated by President Donald Trump to head the Federal Reserve, said he expected the central bank to continue raising its benchmark interest rate and slashing its balance sheet under his leadership.
"Our goal is to maintain a strong labor market with inflation moving gradually towards our goal," Powell said in the text of statements he will deliver on Tuesday at a confirmation hearing before the Committee. Banking of the Senate. "We hope that interest rates will increase a little more and that the size of our balance will be gradually reduced."
Powell also pledged to protect financial stability through the Fed's role as a banking regulator, even when he spoke of refining post-crisis regulation. reforms
"Our financial system is undoubtedly much stronger and more resilient than a decade ago," he said. "We will continue to consider appropriate ways to alleviate regulatory burdens while preserving fundamental reforms."
Powell is likely to face questions from the panel about how he intends to extend the third longest economic expansion in US history. UU And how far will it go? go lightening the burden of the rules imposed on the financial system after the 2008-09 crisis.