"I believe we can wait, watch and see how the economy evolves before making definitive moves on the path of the policy rate," Fed Governor Christopher Waller told the European Economics & Financial Center Seminar in London.
It can't continue this way, he said, but it's too soon to know which way the data will break.
Should the economy soften, he said, "we can hold the policy rate steady."
Speaking at a separate event at Queens College, New York Fed President John Williams offered a similar perspective.
Fed policymakers are weighing whether that level is high enough to get inflation on a path to their 2% goal.
Persons:
Christopher Waller, it's, John Williams, Waller, Ann Saphir, Michael S, Dan Burns, Jonathan Oatis
Organizations:
Federal Reserve, European Economics & Financial, Queens College, Queens College , New York Fed, Fed, Derby, Thomson
Locations:
London, Washington, Queens College ,