Kansas City, Aug. 28 -- US Federal Reserve Chairman Kevin Warsh on Friday put inflation firmly at the centre of monetary policy, saying the central bank needs to be confident that underlying price pressures are moving towards its two per cent target at a sufficient pace, or further policy action may be required.

"We must be confident that underlying inflation is moving to our objective, clearly and at sufficient speed. Otherwise, we have work to do," Warsh said in his keynote address at the Federal Reserve's annual Jackson Hole symposium.

Warsh said the Fed's "predominant focus right now should be on prices", noting that inflation remains above its target and that better-than-expected readings during the summer had not convinced him tha...