U.S. Fed chief says recession is "certainly a possibility"

WASHINGTON, June 22 (Xinhua) -- U.S. Federal Reserve Chair Jerome Powell said Wednesday that the central bank is trying to bring inflation down without inflicting too much damage, but the Fed's aggressive rate hikes could tip the U.S. economy into recession.

"We are strongly committed to bringing inflation back down, and we are moving expeditiously to do so," Powell told lawmakers at a hearing held by the Senate Committee on Banking, Housing, and Urban Affairs.