He noted, “September is a live meeting” for action if inflation is not cooling fast enough.
Waller’s comments follow the release earlier in the week of data that showed inflation pressures at the consumer level are swiftly cooling back toward the Fed's 2% target.
The data didn’t deter financial markets from expecting the Federal Reserve to raise what is now a 5% to 5.25% federal funds target rate at its July 25-26 Federal Open Market Committee meeting.
Waller said the softer inflation data was a good thing but it’s not enough yet to change the outlook.
The aggressive increases have been aimed at tempering the worst levels of inflation seen in decades.
Persons:
Christopher Waller, he’s, ” Waller, Waller, Jerome Powell, John Williams, Michael S, Diane Craft
Organizations:
YORK, Federal, New York University, Reserve, New York Fed, Fed, Derby, Thomson
Locations:
U.S