Fed needs to keep at it until inflation comes down, Powell says

The head of the US Federal Reserve said that policymakers would have to "keep at it" until inflation came down.

In remarks at the Cato Institute in Washington D.C., Jerome Powell also said that it was key to understand if the world was shifting to structurally higher inflation, Dow Jones Newswires reported.

But as he observed, the Fed always made policy under high uncertainty and inflation was not only an American problem.

He also said that fiscal policy was not on a sustainable path and needed to be fixed "sooner rather than later".