WASHINGTON, Oct 12 — The US Federal Reserve’s fight against inflation seems to be heading in the right direction, while the US economy remains resilient, a senior Fed official...
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The Fed has aggressively raised interest rates over the last 18 months to their highest level in 22 years as it works to bring inflation down to its long-term target of 2 per cent. — Reuters picWASHINGTON, Oct 12 — The US Federal Reserve’s fight against inflation seems to be heading in the right direction, while the US economy remains resilient, a senior Fed official said Wednesday.
“In the last few months, we’re finally getting very good inflation data that we wanted,” Fed Governor Christopher Waller told a conference in Utah.“If this continues, we’re pretty much back to our target,” added Waller, who is a member of the Fed’s rate-setting committee. While “domestic spending has continued at a strong pace, and the labour market remains tight,” inflation remains too high, she told a conference in Morocco, according to prepared remarks.
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