Powell: More Rate Hikes May Be Needed to Tame Inflation Despite Economic Risks

Fed Chair Powell says continued economic strength and tight labor market may require further rate hikes.

Powell notes fresh "uncertainties and risks" like geopolitics and higher bond yields that need monitoring.

Powell says progress on inflation but more time needed to be confident it's falling sustainably.

Markets expect no hike at next Fed meeting, but Powell says more hikes possible if needed.

Powell reiterates commitment to bring inflation down to 2% target, path likely "bumpy" and to "take some time."