Federal Reserve Governor Christopher Waller on Wednesday indicated the central bank can afford to hold off on interest rate increases while it watches progress unfold in its efforts to bring down inflation.
"As of today, it is too soon to tell," he said in prepared remarks for a speech in London.
"Consequently, I believe we can wait, watch and see how the economy evolves before making definitive moves on the path of the policy rate."
In recent days, multiple Fed officials have said rising Treasury yields are indicative that financial conditions are tightening, possibly making additional rate hikes unnecessary.
Indeed, Waller noted the backup in yields and said that economic reports over the past several months have been "overwhelmingly positive" regarding inflation.
Persons:
Christopher Waller, Waller, Jerome Powell
Organizations:
Federal, Treasury
Locations:
London, New York