Posted 1/16/2024, 9:25:03 PM
Top Fed Official Sees Inflation Moderating, Keeping Door Open to Rate Cuts
- Top Fed official increasingly confident inflation will continue falling back to 2% target
- Notes inflation slowing while growth and hiring remain solid, an "almost as good as it gets" combination
- Remarks follow comments from other Fed officials suggesting rate cuts coming this year, as early as March
- Shift in Fed's focus from solely fighting inflation to balancing stable prices and maximum employment
- Views risks to inflation and employment goals as closely balanced, suggesting quick rate cuts if economy falters