Top Federal Reserve officials — including Chair Jerome Powell — are increasingly pointing to an obscure price gauge as a reason to maintain confidence in their outlook: “market-based” inflation.

The effects of potential changes in trade and immigration policy suggested” restoring 2% inflation “could take longer than previously anticipated,” according to the Fed minutes released Wednesday.

Almost all” Fed officials judged that the upside risks to inflation had increased, according to minutes of the Fed’s December meeting released Wednesday.

This week's release of the Federal Reserve's December meeting minutes has provided key insights into the central bank's monetary policy for the new year. Officials at the Federal Reserve are considering a more cautious approach to interest rate cuts,

Collins, in prepared remarks for an event Thursday in Boston, said the economy was in a “good place,” but noted that progress on cooling inflation will likely be slower this year than previously anticipated.

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A top Federal Reserve official has said the US central bank is “pretty close” to meeting its objectives on inflation and employment, underscoring investor expectations that policymakers will refrain from sharp interest rate cuts this year.

Federal Reserve Governor Christopher Waller doubled down on more rate cuts and cooling inflation following higher price projections from the central bank and growing expectations among investors

Minutes from the most recent meeting of Federal Reserve policymakers showed uncertainty about the impact of President-elect Trump's immigration and tariff policies on inflation.

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Almost all Federal Reserve officials thought that upside risks to inflation had increased, according to minutes of the Fed's December meeting released Wednesday. Officials cited recent strong inflation readings and also "the likely effects of of potential chances in trade and immigration policy.