Federal Reserve Governor Christopher Waller said on Wednesday that the Fed needs to maintain flexibility on the best policy decision for the June meeting, Reuters reported.
“I’m not a fan of stopping rate hikes unless we have clear evidence that inflation is moving closer to our 2% target,” Waller explained. “Whether or not we should go up at the June meeting will depend on how the data comes out in the next three weeks.”
Other conclusions
“Prudent risk management may suggest skipping a June hike, favoring a July hike depending on inflation data and if banking conditions have not tightened excessively.”
“The labor market needs to relax further to help ease the pressure on inflation.”
“Concerned about the lack of progress on inflation.”
“There is concern that inflation won’t come down much unless average hourly wage growth approaches 3%.”
“April PCE inflation and May CPI data will be crucial.”
“There is more uncertainty than usual about credit terms.”
“The fight against inflation continues to be my priority.”
Market reaction
The dollar continues to outperform its main rivals on the back of these comments, and the dollar index last rose 0.4% on the day to 103.91.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
