Waller says decision can wait until the next meeting; signs of slowing inflation observed

Federal Reserve Governor Waller stated that after reviewing the CPI and PPI data, he now has a fairly accurate assessment of PCE inflation and is finally seeing signs of inflation slowing down. He expects CPI to remain at a reasonable level. He expressed willingness to wait and stay patient, believing that inflation should be given a chance to decline and that a decision can be made at the next meeting. Waller said that the cost of waiting for one meeting is almost zero, which is part of risk management, and there is not much risk involved. He also noted that he does not want to give a specific inflation figure, but if three months of inflation data reach 2.8%, that would be acceptable; after data revisions, core inflation may decline significantly.