US Fed On Track For A 'Soft Landing': Senior Offical

The US Federal Reserve is on track to achieve the rare feat of lowering inflation without causing a damaging recession, a senior central bank official said Friday.

The Fed recently slowed the pace of its interest rate hikes after lifting rates to a 22-year high, citing progress made in the inflation fight.

Policymakers have voiced growing optimism in recent weeks that the Fed can pull off a so-called "soft landing" -- lowering inflation without causing a recession -- given the underlying strength of the US economy and the jobs market.