Fed chairman defends rate rise policy after attack by Trump

Jerome Powell says central bank will 'do whatever it takes' to maintain strong economy

The Federal Reserve chairman has defended the central bank's approach of gradually raising interest rates, after direct criticism from Donald Trump.

Jerome Powell, who was this week attacked by the president for failing to give him "some help" on the US economy, warned that steadily rising borrowing costs would be required to promote job creation and economic growth. Trump had suggested that a change of course would be better for the country.