Won't hesitate to keep hiking rates till inflation tamed: Fed chair

Federal Reserve Chair Jerome Powell, in his most hawkish remarks to date, said the US central bank will keep raising interest rates until there is “clear and convincing” evidence that inflation is in retreat.

“What we need to see is inflation coming down in a clear and convincing way, and we’re going to keep pushing until we see that,” Powell said Tuesday during a Wall Street Journal live event. “If that involves moving past broadly understood levels of ‘neutral,’ we won’t hesitate at all to do that.”

The Fed chair repeatedly stressed the need to curb the hottest inflation in decades during