Bernanke says more rate rises 'may' be necessary

Ben Bernanke told Congress on Wednesday 15 February that more US rate hikes "may" be necessary as the threat of higher inflation persists despite a year-and-a-half of steady tightening.

Bernanke's comments dove-tail with the FOMC's last statement which said "some further policy firming may be needed" and was made a day before Bernanke became chairman.

Bernanke said higher energy prices could still affect the wider price inflation picture and there is a risk that "output could overshoot," puttin