Fed’s Waller: Interest rates are likely high enough to bring inflation back to 2% target

By CHRISTOPHER RUGABER
AP Economics Writer

WASHINGTON (AP) — A key Federal Reserve official said 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 cautioned that inflation is still too high and that it’s not yet certain if the 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 .“I am increasingly confident that policy is currently well-positioned to slow the economy and get inflation back to 2%,” Waller told the American Enterprise Institute.