Interest Rates May Have to Rise if Inflation Persists, Official Says

The U.S. Federal Reserve may have to keep raising interest rates if inflation persists in the U.S. economy, Federal Reserve Bank of St. Louis President William Poole said Friday.

"It's, I believe, certainly my view that if the inflation rate continues to be persistent like this, the Federal Reserve will simply have to pursue persistently policies that will keep that inflation from increasing further," Poole told reporters on the sidelines of a conference on monetary policy sponsored by the Bank of Korea, suggesting that rates may need to rise further.

Poole also described the U.S. economy as "fundamentally very robust" and said that the current inflation "situation is absolutely not dangerous."