Powell worries that inflation is too high and does not rule out raising interest rates by more than 0.25%. The Dow once fell more than 400 points

Federal Reserve Chairman Jerome Powell said on Monday (22nd) that the current inflation rate is too high, which will jeopardize the otherwise strong economic recovery. He said that he will take tough action on this and will continue to raise interest rates until inflation is controlled. Excluding a single interest rate meeting, the rate hike will exceed 0.25%.

"We will take the necessary steps to ensure that prices return to stability," Powell stressed. "In particular, if we conclude that it is appropriate to pass a rate hike of more than 0.25 percent at one or more meetings, we will do so. If we determine that we need to tighten policy and take a stricter stance, we will do the same."

After Powell's speech, U.S. Treasury yields rose, U.S. stocks fell to intraday lows, and the Dow once fell more than 400 points.

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