San Diego, Nov. 14 -- US Federal Reserve Vice Chair Philip N Jefferson has said that inflation will be the key factor in determining future interest rate decisions, as price pressures remain elevated despite signs of stability in the American economy and labour market.

Speaking at the University of California, San Diego Economic Roundtable on Friday, Jefferson said, "Accordingly, I see the trajectory of inflation as providing the more important signal for determining the appropriate stance of monetary policy."

He added, "Going forward, I believe that further policy adjustments should be determined by carefully examining trends in the data, the evolving outlook, and the balance of risks."

Jefferson's remarks come as US inflation continu...