FED Board Member Christopher Waller made critical statements about interest rates in the light of the latest data. Waller said he was unaffected by the recent drop in consumer inflation and believes he should raise interest rates two more times this year.
Speaking to bond market experts, Waller talked about the US inflation figures that emerged during the week. While the numbers are positive, the Fed official cited a rebound in inflation as it signaled a decline in the summer of 2021.
Christopher Waller thinks the Fed should keep raising interest rates to keep inflation under control.
Fed official Waller:
“Two more 25 basis point rate hikes are needed to keep inflation moving towards our target.”
The decline in US inflation figures leads to an increase in interest rate pressure on the FED. But some economists are worried that the bank is raising rates too quickly, which could lead to a recession.
The Federal Reserve’s hawk official, Waller, wants interest rates to continue to rise. According to Waller, any other move would undermine confidence in the central bank.
Will the Fed Raise Rates?
Waller’s comments indicate that the bank will raise interest rates in the coming months. If inflation continues to fall, the Fed may pause the rate hike. However, according to Fedwatch data, participants estimated the probability of a rate hike to be 94.9% at the 25-26 July meeting.
US inflation figures released on Tuesday gave investors great hope. The fact that annual inflation was limited to 3% carried the price of stocks and ounce of gold up. Bond yields and the dollar index, on the other hand, moved downwards.
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