Third-quarter U.S. economic growth, at an annualized 4.9% rate, was a 'blowout' performance that warrants watching as the Federal Reserve considers its next policy moves, Fed Governor Christopher Waller said on Tuesday.
Federal Reserve Governor Christopher Waller poses before a speech at the San Francisco Fed, in San Francisco, California, U.S., March 31, 2023. REUTERS/Ann Saphir/File PhotoWASHINGTON, Nov 7 - Third-quarter U.S. economic growth, at an annualized 4.9% rate, was a "blowout" performance that warrants watching as the Federal Reserve considers its next policy moves, Fed Governor Christopher Waller said on Tuesday.
Many economists and investors feel that an economic slowdown is likely underway, and largely expect the Fed to hold interest rates steady at the Dec. 12-13 policy meeting. The Fed is in the process of weighing that and other data to determine if it will be necessary to raise its benchmark overnight interest rate beyond the current 5.25%-5.50% range that was set in July.
The Fed's current cautious approach to any further rate increases has been bolstered by the rise in bond yields and higher market interest rates.
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