Federal Reserve Chairman Jerome Powell defended the U.S. central bank’s push to raise interest rates as healthy for the economy and signaled more hikes were coming despite President Donald Trump’s criticism of higher borrowing costs. The Fed, which began to tighten monetary policy in 2015, has raised rates twice this year and is widely expected to do so again next month and in December. The economy is strong. Inflation is near our 2 percent objective, and most people who want a job are finding one. If the strong growth in income and jobs continues, further gradual increases in the target range for the federal funds rate will likely be appropriate.

(Reuters)