Fed's Waller Confident in Policy's Ability to Slow Economy and Bring Down Inflation

Federal Reserve Governor Christopher Waller expressed confidence that current policy is well positioned to slow the economy and bring inflation back to 2 percent. While he acknowledged that inflation is still too high, Waller highlighted signs of moderating economic activity and easing supply chain pressures. He emphasized that monetary policy will be crucial in bringing inflation down further, and he will closely monitor upcoming data points, including the report on inflation as measured by personal consumption expenditures. Waller's remarks come ahead of the Federal Open Market Committee's policy meeting in December, where the committee is expected to hold interest rates steady but remain vigilant on inflation.