Fed's Waller (voter) says Fed policymakers have always been committed to 2% inflation and it is a credible pledge

Risks have flipped around, the labour market seems stabilised, and inflation has been taking off, which changes how you think about policy.  Asked about Warsh recommitting to inflation target, says he has never been anything but committed. If the Fed's reaction function is not well understood, policymakers need to talk about it. Fed will not keep rates down for the purpose of helping US Government finance its deficits. Would prefer the inflation target to be set as a range, but changing the target at this point would not be credible.