U.S. inflation 'has likely resumed' slowing toward 2% - Fed's Waller
Investing.com -- Inflation in the U.S. is slowing toward the Federal Reserve's 2% target level thanks in part to a run of interest rate hikes instituted by the central bank, according to Fed Governor Christopher Waller.
Businesses also seem to be in less need to fill vacancies and offer relatively high starting salaries, which could lead to a moderation in wage increases and broader price pressures, Waller said. The comments come after several of Waller's Fed colleagues sounded a largely cautious note on Monday, flagging that they have yet to see sufficient evidence that a cooldown in inflation will be long-lasting. As a result, they largely hinted that borrowing costs will need to stay at their currently elevated level of 5.25% to 5.5% until there is more proof that price pressures are abating.
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