Federal Reserve Governor Christopher Waller said on Tuesday that he needs to see several more months of good inflation data before being comfortable to support an easing in policy, per Reuters.
Fed eral Reserve Governor Christopher Waller said on Tuesday that he needs to seeseveral more months of good inflation data before being comfortable to support an easing in policy, per Reuters. Fed policymakers take on a cautious language on policy outlook. Key takeaways Exception to that would be significant weakening in the labor market. Further increases in policy rate probably unnecessary. April inflation data suggests progress toward 2% target has likely resumed, but progress was modest.
Data suggests inflation isn't accelerating. Economy seems to be evolving closer to what the Fed expected. Data on spending and labor market suggest monetary policy is at an appropriate setting to put downward pressure on inflation. Wage growth still a bit higher than desired, but not that high. Will be closely watching how private domestic final purchases fares into second quarter. Credit card and auto loan delinquency rates suggests some consumers under stress.
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