Federal Reserve officials, who have led interest rate hikes to curb inflation over the past two years, said recent developments should allow the central bank to extend its pause on rate hikes until at least early next year.
“We are increasingly confident that policy to slow the economy and return inflation to 2% is now in a favorable position,” Fed Director Christopher Waller said Tuesday after the latest data on employment, economic activity and inflation. ” he said.
Waller last month highlighted the divergence in economic data through September. Economic activity appeared to be accelerating again as inflation slowed.