Fed official Waller has expressed a view on inflation. He suggests that underlying inflation might be lower than currently thought. This perspective is noted in a report from American Banker.

Further details on Waller's comments are available from the source. The report indicates that Waller has shared his thoughts on the matter, but specific context or reasoning behind his view is not provided here.

For more information on Waller's statement and its potential implications, readers can refer to the original report from American Banker.