Top Fed officials see progress in inflation battle

Two senior Federal Reserve officials said the central bank was making progress in its fight against inflation, but it would take time to bring inflation back to the Fed’s 2% target.

Fed Vice Chair Lael Brainard indicated in her comments Thursday that she supported slowing the pace of interest rate increases to a more traditional quarter percentage point at the central bank’s next board meeting, which is Jan. 31 to Feb. 1, along with a number of colleagues.