SAN FRANCISCO (Reuters) - The Federal Reserve is intent on not letting inflation spiral out of control, even as the economy teeters on the brink of recession, a top Fed policy-maker said on Tuesday, indicating that more interest rate cuts are not in the offing.

The world is not food secure. An overextended global food system operating in an increasingly resource-constrained world with little or no cushion to cope with catastrophe is now at the brink of break down due to soaring global food prices. In the United States and internationally, our response must be immediate and enduring, requiring swift action this week by Congress, the World Bank, the Group of Eight industrialized nations and the United Nations.

California brokered a deal with four major loan servicing companies that would aid homeowners on the brink of default by extending low, introductory interest rates on mortgages.