WASHINGTON—Federal Reserve governor Jerome Powell would strive to support the economy’s progress toward full recovery and defend the central bank’s independence if confirmed as its next leader, he will tell a Senate panel Tuesday when it considers his nomination. In prepared testimony released by the Fed on Monday, Mr. Powell said Fed officials continue to expect interest rates to rise “somewhat further” and the size of the central bank’s balance sheet to shrink gradually.

Source: Wall Street Journal November 27, 2017 22:01 UTC