Federal Reserve Governor Adriana Kugler said on Thursday U.S. inflation still has "some way to go" to reach the Fed's 2% target, and that its path toward that goal continues to be bumpy.

Federal Reserve officials at a meeting last month pointed to rising risks that inflation could worsen, a key reason they kept their benchmark interest rate unchanged

Federal Reserve officials indicated last month that they needed to see “further progress on inflation” before any new interest rate cuts, as the US central bank kept monetary policy steady in the face of high uncertainty over the outlook.