Waller: Inflation is still above target, the Fed has more work to do

Federal Reserve Chairman Waller warned that inflation has not shown meaningful signs of slowing down and stated that policymakers must be confident that inflation is moving in the right direction; otherwise, the central bank "has work to do." Waller reiterated that the Federal Reserve will bring the inflation rate back to the 2% target. He stated that this is a clear and fixed goal.

Waller said, "My standard is that we must be confident that underlying inflation is moving toward our target, and the pace must be clear enough and fast enough. Otherwise, we have work to do. That is our responsibility."

Waller also stated that current financial conditions are not restrictive, and interest rates are the "primary tool" for the Federal Reserve to fulfill its responsibilities.