WASHINGTON, D.C. — The US appears on track to hit its long-term target of 2-percent inflation despite a recent uptick, three Federal Reserve (Fed) officials said Monday, with one indicating tentative support for another rate cut this month.
The US central bank has been on a journey since the Covid-19 pandemic, hiking interest rates to a two-decade high and holding them there in order to tame a surge in inflation, before starting to dial back rates in recent months.
