WASHINGTON, D.C. — Progress in the US Fed eral Reserve's fight against inflation 'likely resumed' last month, a senior bank official said Tuesday, adding that additional rate hikes were probably unnecessary.Consumer inflation ticked lower in April, providing Fed policymakers with some good news following an uptick in the first quarter that had led some officials to question whether to cut rates at all this year from their current two-decade highs.
Waller sounded a more optimistic note Tuesday — but with some notable caveats.'While the April inflation data represents progress, the amount of progress was small,' he said, adding: 'The economy now seems to be evolving closer to what the Committee expected.
Official: Progress Vs Inflation 'Likely Resumed'
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