Fed to keep hiking rates until it controls inflation: Jerome Powell

Chair Jerome Powell on Tuesday underscored the Federal Reserve's determination to keep raising interest rates until it has brought inflation under control a high-stakes effort that carries the risk of causing an eventual recession.

What we need to see is inflation coming down in a clear and convincing way, Powell said in remarks to a Wall Street Journal conference. And were going to keep pushing until we see that.

Powell's remarks Tuesday followed other statements he has made that have made clear that the Fed is implementing a series of rate hikes that could amount to the fastest tightening of credit in more than 30 years.