Fed chief vows to keep raising rates until ‘compelling evidence’ of falling inflation

Senator Elizabeth Warren criticizes the Fed's rate moves, expressing fear that rate hikes will drive this economy off a cliff'

The Federal Reserve will keep raising rates until it sees compelling evidence" that inflation is coming down, the Fed chair, Jerome Powell, told Congress on Wednesday.

The US is wrestling with rates of inflation unseen in 40 years and Powell warned that further surprises could be in store".