Feds Waller does not comment on the economy or monetary policy in speech

Fed's Waller is speaking but did not make any comments on monetary policy or the economy as he speaks on financial innovation.

His comments:

• We should encourage innovation for financial services
• Should be critical of claims by innovators, but also challenge the doubters
• Smart contracts have risks, also considerable promise
• Fed has regular discussions with banks on understanding, managing risk of artificial intelligence Artificial Intelligence Artificial Intelligence (AI) is defined as the automation of robotics and its influence and/or adoption within existing technologies.In recent decades, the evolution of technology has quickly since led to the gradual adoption of AI in several aspects of our lives, including investing or trading.One of the most pertinent is its impact in the financial services industry, which provides a wide range of possibilities.How Can AI Change the World?Perhaps more so than any other technology, AI has the p Artificial Intelligence (AI) is defined as the automation of robotics and its influence and/or adoption within existing technologies.In recent decades, the evolution of technology has quickly since led to the gradual adoption of AI in several aspects of our lives, including investing or trading.One of the most pertinent is its impact in the financial services industry, which provides a wide range of possibilities.How Can AI Change the World?Perhaps more so than any other technology, AI has the p Read this Term
• Curious to see how banks make further use of AI and want to make sure they do so responsibly

When Waller spoke last Friday he surprised market by saying that inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term was not under control and implied more than one more Fed hike. That sent yields higher and the dollar higher.

Fed's Mester will speak at 12:20 PM ET, and is speaking on the economy and policy outlook. Mester has not spoken in a few weeks. At the time she said:

• Fed will need to raise rates above 5% and keep them there for a while

• Tightening monetary policy needed to cool too hot inflation
• How much more the Fed hikes depends on economy and how it reacts
• Tighter financial conditions should create restraint on economy
• Banking sector resilient, stresses appear to have eased since last month
• Fed balance sheet cuts aiding rate-hike cycle
• Fed closely watching banking system for signs of stress
• Expects inflation to ease to 3.75% by end of year, 2% by 2025
• Expects growth to moderate this year
• Expects jobless rate to rise to between 4.5% and 4.75% this year