Washington, Nov 7 (EFE) .- The President of the Federal Reserve (Fed) of the United States, Janet Yellen, stressed today that the "trust" and "effectiveness" of the institution depend "on the compliance with ethical standards ", in his first speech after President Donald Trump announced that he will replace it in February 2018.

" The Reserve's own effectiveness Federal policy in establishing monetary policy depends on the confidence of citizens that we act only in their interest, "Yellen said in a ceremony in which he received the Paul Award Douglas for ethical behavior in government.

"We must act ethically, and show our ethical standards in a way that leaves little room for doubt," she added.

Yellen, who shared the award with his predecessor in the Federal Reserve, Ben Bernanke, did not comment on current monetary policy or the economic prospects of the United States.

Yellen and Bernanke received the award for their efforts to increase transparency in the historically opaque US central bank, with press conferences by the president every two meetings of Monetary policy.

It is also his first public speech after Trump announced last week his decision not to appoint her for a second term at the head of the Federal Reserve from February 2018 and replace it with Jerome Powell, current member of the board of governors of the agency.

The next monetary policy meeting of the bank Central Bank will be held in mid-December, and it is expected that it will decide a new interest rate hike, now between 1% and 1.25%, reflecting the strength of the American economy.