US Federal Reserve Chair Jerome Powell attends a press conference in Washington, D.C., the United States, on June 15, 2022. (Photo: Xinhua)
Rapid interest rate increases are meant to cool demand and bring inflation down, but Federal Reserve Chair Jerome Powell on Wednesday acknowledged the risk that the hikes could trigger a US recession.
"It's not our intended outcome at all, but it's certainly a possibility," Powell said in testimony before the Senate Banking Committee.
