Fed's Waller wants continued rate hikes until meaningful, persistent progress on inflation

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Fed's Waller wants continued rate hikes until meaningful, persistent progress on inflation

<p>Governor Christopher Waller is a member of the Federal Reserve Board of Governors</p><ul><li> I support continued rate hikes until we see meaningful, persistent progress on US Inflation</li><li>Monetary policy can and must be used aggressively to bring down inflation</li><li>Likely not enough data before November meeting to significantly alter my view of economy</li><li>I anticipate additional rate hikes into early next year</li><li>Stance of policy is slightly restrictive, beginning to see some adjustment in sectors like housing</li><li>Will have a 'very thoughtful discussion' about pace of tightening at next meeting</li><li>Availability of swap lines, existence of standing repo facilities are a stabilizing force</li><li>Not considering slowing rate increases or halting them due to financial stability concerns</li><li>Markets are operating effectively</li><li>U.s. Economy set for below-trend growth in 2H 2022</li><li>Labor market strong, very tight</li><li>The focus of monetary policy needs to be fighting inflation</li><li>Cannot dismiss possibility of a larger drop in demand, house prices before market normalizes</li><li>Friday's jobs report likely will not alter view fed should be 100% focused on reducing inflation</li><li>Inflation is much too high, not likely to fall quickly</li></ul><p>---</p><p>Waller is giving a nod to being data-dependent in these comments. But not for the November meeting, there is not enough data ahead of that one. </p>

                This article was written by Eamonn Sheridan at forexlive.com.

Source: Fed's Waller wants continued rate hikes until meaningful, persistent progress on inflation

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