Federal Reserve concerned over ‘lack of further progress’ in bid to tame inflation

While price growth has fallen sharply, with April's 3.4% lower than March's 3.5%, it is still higher than Fed's medium-term goal of 2%

Policymakers at the Federal Reserve have expressed concern over stalling progress in their fight to bring down inflation.

Although price growth has fallen sharply since peaking at its highest levels in a generation two years ago, it has remained stubbornly above where officials want it to be.