Fed Chair Jerome Powell discusses target interest and inflation rates at Jackson Hole summit

The robust growth of the U.S. economy may necessitate additional interest rate increases to mitigate inflationary pressures, according to Federal Reserve Chair Jerome Powell.

Speaking at the Jackson Hole Economic Symposium, an annual conference of central bankers in Jackson Hole, Wyo., Powell outlined the uncertainties surrounding the economic outlook while indicating the possible need for further restrictive monetary policies, as reported by the Associated Press.