Federal Reserve (Fed) Board of Governors member Christopher Waller noted on Friday that while the Fed's decision to cut interest rates by an accelerated 50 bps, the Fed's data-dependent approach could mean that the next meeting will be a pause as policymakers await further data.
Fed eral Reserve Board of Governors member Christopher Waller noted on Friday that while the Fed 's decision to cut interest rates by an accelerated 50 bps, the Fed 's data-dependent approach could mean that the next meeting will be a pause as policymakers await further data. Key highlights whas the right call. We are at the point that the economy is strong, we want to keep it that way, 50 bps right policy action to do that.
The inflation data during the blackout pushed me to a 50 bps cut. CPI report and PPI report flowing into PCE inflation was my consideration. Inflation is softening much faster than I thought it was going to. If data comes in fine, you could imagine going 25 next meeting or two. If labor market worsens and inflation data softens quicker, we could do more. We could even pause, depending on the data. We see a lot of room to move down in next 6-12 months.
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