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

A key Federal Reserve official said Tuesday that 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, a member of the Fed's Board of Governors, cautioned that inflation is still too high and that it's not yet certain if a recent slowdown in price increases can be sustained. “I am increasingly confident that policy is currently well-positioned to slow the economy and get inflation back to 2%,” Waller said in a speech at the American Enterprise Institute, a Washington think tank.