Waller says inflation remains too high and persistent; the Federal Reserve is focused on price stability

In the opening statement of the press conference, Federal Reserve Chair Walsh emphasized that neither he nor other policymakers are satisfied with the current pace of inflation. He stated: "What we are most concerned with right now is the price stability aspect of our monetary policy mandate. The fact is simple: inflation is too high and has persisted for too long. This summer's inflation data did not show me any meaningful improvement in the underlying trend." He pointed out that in the recent CPI and PPI data, too many categories still saw increases of over 3% in the past six and twelve months. The Federal Reserve Chair stressed that the FOMC's goals are clear and crucial: achieving full employment and price stability, and driving the U.S. economy to thrive, making it a global benchmark.