Washington DC, Aug. 6 -- US Federal Reserve Governor Lisa Cook has said she is prepared to support higher interest rates if inflation does not begin to move lower, underscoring that restoring price stability remains the central bank's top priority despite signs of resilience in the US economy.

In a speech on Wednesday, Cook said inflation continues to run above the Federal Reserve's 2 per cent target and warned that policymakers must remain ready to act if price pressures prove more persistent than expected.

She stated "I have described, inflation is too high, and I consider the risks to the inflation side of the dual mandate higher than the risks to the employment side at this point. As such, I am prepared to act by raising rates, if n...