Bond yields will stay high and the Fed's war on inflation isn't over yet, Harvard economist Ken Rogoff says

• Elevated bond yields are likely to become the norm, Ken Rogoff has warned.
• Ten-year US Treasury yields have surged to their highest level since 2007 in recent weeks.
• "They're going to stay high as far as the eye can see," the Harvard economist told Bloomberg.

Bond yields will likely stay high for a long time and the Federal Reserve's battle against soaring prices is nowhere near over, Harvard University professor Ken Rogoff has warned.

The former IMF chief economist said Wednesday that he expects real rates – the actual return on a bond or loan, taking inflation into account – to remain elevated for the foreseeable future.