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US treasury secretary Janet Yellen is using remarkably similar language to Australia's Reserve Bank (or perhaps it's the other way around!).
She has said the US is on a "path" to reducing inflation while maintaining a strong jobs market.
Indeed, she sounds a bit more optimistic than Philip Lowe and others at the Reserve Bank who describe that path in Australia as "narrow".
Here's some highlights of what Dr Yellen had to say to Stephanie Ruhle on MSNBC show The 11th Hour, in an interview that will air shortly in the United States.
"Inflation year-over-year has come down for 11 months in a row and is now down by about 5 per cent," she said.
"Granted, it remains too high, and the labor market is strong, but, in part, we're seeing the strong job market is attracting more people into it.
"The share of working-age Americans that are participating in the labor market is higher than it's been in, I believe, 15 years. So some easing is coming from additional participation in the labor market.
"And headline growth in the economy has slowed. And that means that firms are reconsidering just how many additional workers they need to hire. And as they're now planning for somewhat slower growth — after all, we are operating at capacity and back to full employment — as they anticipate slower growth and some sectors experiencing some weakness, job openings — while still very, very high — are declining.
"And a little bit of reduced pressure from firms that have such ambitious hiring plans is taking some of the heat out of competition in the labor market.
"So wage increases remain very solid, but they've come down off their highs. And that will be a factor even in the context of a strong labor market that — that will tend to reduce inflation over time.
"So I don't believe we need to see any very significant weakening of the labor market. I think, as I've said repeatedly, there's a path for inflation to come down in the context of the strong labor market, and I think we're seeing that. We're on that path, but it will take time."
The Reserve Bank here has also said that it doesn't want to give up all the jobs gains Australia has made over the pandemic period that saw unemployment drop from being consistently above 5 per cent before the pandemic to 3.6 per cent currently.
However, the RBA in its forecasts and speeches has admitted that it expects unemployment will probably need to rise to 4.5 per cent for inflation to come back under control within the 2-3 per cent target range.
Our blog master today, Gareth Hutchens, wrote a great piece on this on Sunday.