The Atlanta Fed chief said he was encouraged by data showing inflation falling faster than expected.
The Fed chair confirmed the Fed is on the cusp of a key turning point in its two-year battle against inflation.
The labor market remains strong despite recent jobs figures that were softer than predicted, she said.
Balances on home equity lines of credit increased for the ninth consecutive quarter.
Americans are searching longer for jobs and lower-income households are falling behind on loan payments.
Many Black buyers haven't benefited from rising home equity.
Despite keeping interest rates stable for now, the central bank also remains committed to a 2% inflation target.
Americans spent broadly on furniture, travel and other splurges in the third quarter.
The Fed chief also said a further run-up in long-term Treasury yields could lessen the need for more hikes.
U.S. central bankers have raised the benchmark lending rate to 5.25% to 5.5% from near zero over 19 months.
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