A key Federal Reserve official said Tuesday that he is “increasingly confident” that the Fed's interest rate policies will succeed in bringing inflation back to the central bank's 2% target level.
The official, Christopher Waller, a member of the Fed's Board of Governors, cautioned that inflation is still too high and that it's not yet certain if a recent slowdown in price increases can be sustained. But he sounded the most optimistic notes of any Fed official since the central bank launched its aggressive streak of rate hikes in March 2022, and he signaled that the central bank is likely done raising rates.
