Fed officials welcome October CPI but still see tighter policy ahead


Prices of fruit and vegetables are on display in a store in Brooklyn, New York City, March 29, 2022.

Andrew Kelly | Reuters

Federal Reserve officials welcomed Thursday’s news showing that inflation rose less than expected last month, and they noted that interest rate increases could slow ahead.

But they also cautioned against getting too excited by the data, saying that prices are still far too high.

“One month of data does not a victory make, and I think it’s really important to be thoughtful that this is just one piece of positive information, but we’re looking at a whole set of information,” San Francisco Fed President Mary Daly said during a question-and-answer session with the European…


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