He governor of the Federal Reserve (Fed), Christopher Wallersaid on Tuesday that it is too early to know whether more monetary policy measures are needed, adding that they can “wait, watch and see before taking definitive steps on the policy path,” according to Reuters.
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“Further action on the policy rate would be necessary if demand and economic activity maintain the recent pace.”
“Data from the last few months is ‘overwhelmingly positive’ for the Fed’s employment and inflation goals.”
“I will monitor developments in long-term rates, which have recently risen, and their impact on financial conditions and economic activity.”
“I will be patient while waiting for data that documents how spending evolves.”
“Time will tell if rising rates slow business spending, or if subsidies and offshoring increase it.”
“I anticipate the unusually tight labor market will continue to ease, but I am watching closely.”
“We will be attentive to the next inflation reports in case there are clearer signs that the trajectory towards 2% continues.”
Market reaction
The US dollar remains strong following these comments. At press time, the Dollar Index rose 0.37% to 106.58.
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.
