Fed's Waller: Still More Work to Do on Inflation

The video discusses the current state of core inflation, which remains above the 2% target. It explains different measures of inflation, such as CPI and PCE, and highlights the lack of progress towards the inflation goal. The economic outlook remains unchanged from the last FOMC meeting, and monetary policy needs further tightening. Financial conditions have tightened, the labor market is strong, and future policy will depend on incoming data on inflation, the real economy, and credit conditions.

What is the current status of core inflation according to the video?

• It is not measurable.

• It is above the 2% target.

• It is at the 2% target.

• It is below the 2% target.

Which measures are used to assess inflation in the video?

• GDP and CPI

• CPI and PCE

• PPI and GDP

• CPI and GDP

What does the video suggest about progress towards the inflation goal?

• No progress has been made.

• The goal has been achieved.

• Significant progress has been made.

• Little progress has been made.

How does the video describe the labor market?

• Unpredictable and volatile

• Weak and loose

• Strong and tight

• Stable and balanced

What factors will influence the extent of future monetary policy tightening?

• Political changes

• Incoming data on inflation, the real economy, and credit conditions

• Public opinion

• International trade agreements