Federal Reserve Gov. Chris Waller said there’s “no rush” to reduce U.S. interest rates in light of stronger-than-expected readings on inflation and economic growth early in the new year. “The data that we have received since my last speech [on Jan. 16] has reinforced my view that we need to verify that the progress on inflation we saw in the last half of 2023 will continue,” Waller said at a speech in Minneapolis on Thursday night. “And this means there is no rush to begin cutting interest rates to normalize monetary policy”
Waller and other Fed officials have made a concerted effort in the past few weeks to brush back Wall Street’s previous forecasts for rate cuts as early as March. Waller had been one of the more hawkish Fed officials in 2022 and 2023 in urging higher rates to squash inflation, but he began to soften his tone toward the end of last year as inflation waned. Yet like other senior Fed of …
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Waller and other Fed officials have made a concerted effort in the past few weeks to brush back Wall Street’s previous forecasts for rate cuts as early as March. Waller had been one of the more hawkish Fed officials in 2022 and 2023 in urging higher rates to squash inflation, but he began to soften his tone toward the end of last year as inflation waned. Yet like other senior Fed of …nnDiscussion:nn” ai_name=”RocketNews AI: ” start_sentence=”Can I tell you more about this article?” text_input_placeholder=”Type ‘Yes'”]