Federal Reserve Governor Waller Expresses Confidence in Interest Rate Policy

According to Yahoo News, U.S. Federal Reserve Governor Christopher Waller stated on Tuesday that he is 'increasingly confident' that the current setting of the central bank's benchmark interest rate will be adequate to lower inflation to the Fed's 2% target. Waller made these comments during a speech at the American Enterprise Institute think tank. He noted that recent data, including flat consumer prices in October and easing retail spending, have moved in the Fed's direction, supporting continued progress on inflation. However, Waller also acknowledged that inflation is still too high and there is significant uncertainty about the pace of future economic activity. The Federal Reserve held the benchmark interest rate steady in a range of 5.25% to 5.5% at its last meeting, and analysts expect the same outcome at the next policy meeting on December 12-13.