More half-point interest rate hikes on the table, Fed Chairman Powell says

The US central bank will move quickly to raise interest rates to contain surging inflation, and more strong rate hikes are possible, Federal Reserve Chair Jerome Powell said Wednesday.

After announcing the first half-point increase since 2000, Powell said "additional 50-basis point increases should be on the table at the next couple of meetings," but a three-quarter point rise is not under consideration.