US interest rates to rise more than expected: Federal Reserve Chair Jerome Powell
"If the totality of the data were to indicate that faster tightening is warranted, we would be prepared to increase the pace of rate hikes," he said in prepared remarks released ahead of his appearance at a US Senate hearing.
Fed has raised its interest rate by 4.5 percentage points over the last year, as the Fed has contended with inflation that remains stubbornly above its long-term target of 2.0 per cent. (Image: Reuters)