<div><span style="font-size: 1rem;"><b>Inflation in the United States has become "broad-based," a top Federal Reserve official said Friday, suggesting the US central bank's fight against price rises through interest rate hikes has some road left to run.</b></span><br></div><div>&nbsp;</div><div>The Fed has raised its benchmark lending rate nine times in a row since March last year to tackle inflation, which remains well above its long-term target of two percent.</div><div>&nbsp;</div><div>Several senior Fed officials have suggested in recent weeks that interest rates may need to increase further, and remain high, to control inflation.</div><div>&nbsp;</div><div>Overall inflation, and other underlying measures of consumer price increases, remained high, Fed governor Lisa Cook said in prepared remarks in Washington on Friday.</div><div>&nbsp;</div><div>"All of these measures have come off their peaks but remain elevated, suggesting that inflation has become broad-based in the economy," said Cook, who is a member of the Fed's 12-person rate-setting committee.</div><div>&nbsp;</div><div>&nbsp;Cook said the path back to stable inflation "could be long and is likely to be uneven and bumpy."</div><div>&nbsp;</div><div>The "appropriate path" of interest rate hikes would be determined by the impact of the recent financial sector turmoil on bank lending, she added.</div><div>&nbsp;</div><div>"But if data show continued strength in the economy and slower disinflation, we may have more work to do," she said.</div><div>&nbsp;</div><div>&nbsp;The Fed will announce its next interest rate decision on May 3.</div><div>&nbsp;</div><div>Most futures traders now expect the US central bank will raise its benchmark lending rate by 25 basis points, according to data from CME Group. - AFP</div><div><br></div><div>bnbd24/fas</div>