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Trump's nominee to head the Fed expects interest rates to "go up some more"

The nominee by US President Donald Trump, to head the Federal Reserve (Fed), Jerome Powell, said today that he expects interest rates to "go up a bit more" when defending the legacy of the outgoing president, Janet Yellen.

Washington, November 28 (EFE) .- The nominee by US President Donald Trump, to head the Federal Reserve (Fed), Jerome Powell, said today that he expects interest rates "raise something more" by defending the legacy of the outgoing president, Janet Yellen.

"We expect interest rates to go up slightly and the volume of our balance will gradually decrease", affirmed Powell in his first confirmation hearing before the Banking Committee of the US Senate, which supposes an endorsement of the current monetary policy of the central bank American.

The body led by Yellen, who will leave office in February 2018, has raised interest rates twice this year to the current level. between 1% and 1.25%, and a new increase is expected in its last meeting of the year, in mid-December, given the good economic health of the US.

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