If you mean 'no bugs in compiler' then yes. The safety of the target language doesn't matter: the output C is has an equivalent role to output machine code, those languages themselves are as unsafe as they can get, it's just that compilers output is a safer subsection of 'all programs which can be expressed in them'.

That's a problem for almost every language, not just Rust. C++ also compiles to intermediate representations, and then to machine code. Errors happen on that path. Rust just get rid of a lot of errors that could have been in the original specification (the source code).