U.S. inflation "has likely resumed" slowing toward 2% - Fed's Waller
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U.S. inflation is slowing toward the Federal Reserve's 2% target level thanks to interest rate hikes by the central bank, according to Fed Governor Christopher Waller. Waller stated that the Fed's restrictive monetary policy stance is helping to cool off aggregate demand, and softer inflation data for April suggests that progress toward 2% has likely resumed. He also noted that businesses seem to be in less need to fill vacancies and offer high starting salaries, which could lead to a moderation in wage increases and broader price pressures. Waller believes that further increases in the policy rate are probably unnecessary. However, other Fed colleagues have expressed caution and believe that borrowing costs should stay elevated until there is more proof that price pressures are abating. The Fed's next policy meeting is scheduled for June 11-12, and it is widely expected that rates will remain unchanged.

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https://www.investing.com/news/economy/us-inflation-has-likely-resumed-slowing-toward-2--feds-waller-3450128