November 28, 2017 / 4:13 PM / 13 days ago

Fed chair nominee Powell says case for rate hike 'coming together'

(Reuters) - The U.S. Federal Reserve is likely to raise interest rates again next month, Fed chair nominee Jerome Powell signaled on Tuesday.

Jerome Powell waits to testify before the Senate Banking, Housing and Urban Affairs Committee on his nomination to become chairman of the U.S. Federal Reserve in Washington, U.S., November 28, 2017. REUTERS/Joshua Roberts

“The case for raising interest rates at our next meeting is coming together,” Powell told the Senate Banking Committee. Asked if that means the Fed will raise rates, he said, “I think the conditions are supportive of doing that.”

Reporting by Howard Schneider; Additional reporting by Lindsay Dunsmuir and Ann Saphir and Jason Lange; Editing by Chizu Nomiyama

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