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International Business Times
International Business Times
Business
Daniel AVIS

US Fed 'Within Striking Distance' Of Inflation Target: Official

Inflation Christopher Waller United States US Federal Reserve the US Fed Interest Rates
The US Fed is within striking distance of hitting its target, Governor Christopher Waller said Tuesday (Credit: AFP)

The US Federal Reserve is "within striking distance" of reaching its long-term inflation target and could begin cutting interest rates this year, a senior official said Tuesday.

"I am becoming more confident that we are within striking distance of achieving a sustainable level of two percent PCE inflation," Fed Governor Christopher Waller said at a virtual event, referring to the Fed's favored inflation gauge.

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