Fresh inflation data released Wednesday is likely to keep the Federal Reserve on pause during its next policy meeting this month, even though a new reading did show some signs of easing.

In the wake of Wednesday's official report on consumer prices, three officials who set the nation's monetary policy said they're confident the inflation rate will someday fall to typical pre-pandemic levels.

Federal Reserve Bank of New York President John Williams voiced confidence that inflation would continue to recede after a report on consumer prices came in better than expected, without offering any hints on the timing of additional interest-rate cuts.

Activity, prices and labour markets all stronger relative to last release, reinforcing need for central bank caution ahead

Economic activity increased “slightly to moderately” across the US in late November and December, supported by strong holiday sales, the Federal Reserve said in its Beige Book survey of regional business contacts.

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